Backdoor Roth Q While Moving Rollover IRA to 401k Provider Thanks in advance to this sub, as its amazing at helping everyone, including myself. I understand the Backdoor Roth (BDR) conversion process. For my personal case, it’s easy – I have all of my pre-tax money in a 401k (no other IRAs or Rollovers etc.). My question is for my wife’s situation, who has a Rollover IRA, and I just wanted a sanity che…

I think I finally understand Backdoor Roth IRA and why everyone seems to constantly say you need to do it. Please anyone feel free to correct me! I (36M) am making this post as it has been hard to find things that aligned with my thoughts. I have spent a while trying to figure out if doing a backdoor roth is even worth it compared to dumping it in my normal brokerage account and it hadn’t really seemed worth it. I finally had the epiphany last night…

If i cant do backdoor roth ira, can i make one for spouse? I have a simple ira thru my job so i cant do the backdoor ira. My wife has a 403b account through her job so can i just open a roth ira under her name and invest through her account with the backdoor method? submitted by /u/boombai12

FreeTaxUSA Fixed their (slight) Backdoor Roth issue for 2024 It used to be that if one spouse had a 401k at work and your MAGI was too high, FreeTaxUSA would mark their IRA contribution as non-deductible (correctly) but would fail to allow you to override the other spouse’s IRA contribution to be non-deductible. This wasn’t a huge issue, as the math works out the same, except that it’s not technically cor…

US Lawmakers Urge Intelligence Chief to Fight UK iCloud Backdoor Order Members of key congressional oversight committees have called on the United States’ new top intelligence director to pressure the United Kingdom to withdraw its controversial demand for Apple to create a backdoor into encrypted user data stored in iCloud, according to The Washington Post. Last week The Post revealed that a secret UK order, issu…

Requesting some Backdoor Roth clarifications. I have some questions about a backdoor Roth IRA situation that I would love to get clarity on. This applies to both 2024 and 2025. So here goes: I am clearly above the income limit for 2024 to make Roth IRA contributions. I was considering contributing via the backdoor Roth IRA, but I remembered that I stupidly rolled a previous employer’s 403(b…

I think I screwed up trying to backdoor Roth… 2023 tax year was the first time my income exceeded the Roth contribution income limit. Made a nondeductible $6500 contribution to a new traditional IRA in April 2024 for tax year 2023 and converted it to my roth account thinking it was that simple for a backdoor Roth. However, I hadn’t known about the pro-rata rule at the time… I had ~$30k si…

Apple Ordered by UK to Create Global iCloud Encryption Backdoor The British government has secretly demanded that Apple give it blanket access to all encrypted user content uploaded to the cloud, reports The Washington Post. The undisclosed order is said to have been issued last month, and requires that Apple creates a back door that allows UK security officials unencumbered access to encrypted user data wo…

Overthinking backdoor roth? 1) After spending a lot of time reading various sources on backdoor roth to make sure I’m understanding it, I am 99.9% sure that, provided all contributions made to the traditional IRA aren’t initially deducted, and assuming no gains on the initial contributions (say I just add the funds to the trad IRA, don’t invest in anything, immediately con…

401k to IRA taxes, backdoor Roth Moving 401k to IRA and taxes: I have the opportunity to move Traditional 401k (100k) and Roth 401k(20k) to Traditional IRA and Roth IRA. I also invested 7k to Roth IRA back door for 2025 (move from Traditional to Roth 401k). Fidelity who holds my 401k says if I move my 401k to IRA, they might tax the entire Traditional 401k since I didn’t one tr…

401k Trad vs Roth w/ Mega Backdoor Hi all, new here. I’ve been reading guides on the order of contributions and many people recommend Roth. Usually this is considered without consideration of also having a Megabackdoor Assuming I max out my 401k w/ mega (~60k+) and backdoor iras, should I still keep my regular 401k contribution pre tax or Roth? At my income bracket, a pre tax w…

I did a backdoor roth for my wife but she didn’t realize she had money in an old rollover IRA, what to do now? Wife had an old rollover IRA from previous 401k (less than 5k) she forgot to tell me about and I been doing backdoor roths on her behalf for last 3 years. My understanding is this would violate pro-rata rule. How do I fix this on my taxes going forward? Do I need to amend my old tax returns? submitted by /u/TheAnswerIsCytokines …

How does backdoor Roth Work? Posting on behalf of a senior (low income, etc) 65 y , f , still working but may not for too long has a Traditional pre-tax IRA with $150K (open for 5+ years) has a roth IRA open for 5 years but only 15k in it How to convert the pre-tax IRA into Roth? I know any time they take $$ out , it will be taxed at regular income bracket Plan was to take …

Getting close to early retirement… please help me understand backdoor Roth Long story short, my wife and I are approaching retirement within 5 years. She has made a nice income overseas that is all FEIE, and so has only contributed to Traditional 401k (can’t exclude the income from taxes AND contribute to a Roth 401k, as we were told, and we felt it was safe). I earn a military retirement which is pretty meager. When w…

FBI’s warrantless ‘backdoor’ searches ruled unconstitutional Image: Cath Virginia / The VergeFollowing years of litigation, a federal court has finally ruled it unconstitutional for the FBI to search communications of US citizens collected under Section 702 of the Foreign Intelligence Surveillance Act (FISA). In a ruling unsealed last week, US District Court Judge LaShann DeArcy Hall decided that these “b…

1099R for backdoor roth conversion seems off Hey all, just got my 1099R from fidelity for 2024 tax year. I did backdoor roth conversion the past two years. My 1099R from 2023 had ~$6500 in distributions but my 1099R for my traditional IRA from 2024 just has a $1 and my 1099R for my roth IRA has a distribution of $35. Did I do something wrong during the conversion? This is my first time doi…

Help me understand our Mega Backdoor Roth situation My wife is starting a new job, that has a 401k plan that (per my understanding) allows one a type of Mega Backdoor Roth contributions. Our personal financial/tax situation: We will both likely max out our (regular) 401k contributions and HSA contributions We will also max out our Roth IRAs (via backdoor Roth IRA. We have no other funds in non-R…

Backdoor Roth mess-already put on money last year Hi, Can someone guide me with this? I maxed out my Roth IRA last year, realized now that we (spouse and I) are not eligible due to our AGI. What can I do now to fix this? Thanks submitted by /u/gondhal

Backdoor Roth IRA Conversion / Trad 401k Rollover Sequence Say someone completes a Backdoor Roth IRA conversion at the beginning of the year. At that time, they have no traditional IRA balance before or after the conversion. Then later on in the year, they switch jobs and roll over their traditional 401k to a traditional IRA. In that case, they have a traditional IRA balance at the end of the year. Does…

Messed up backdoor Roth. Am I hosed? Early 2024 I maxed out my Vanguard Roth IRA for the year. I then unexpectedly made more than the max income limit. A few months ago I recharacterized the contribution to a new vanguard traditional IRA, and then did a rollover back to my Roth IRA. I just now realized that the pro rata rule applies to me because I have 50k in a fidelity rollover I…