Timeline for Is it possible to recharacterize an IRA twice?
Current License: CC BY-SA 3.0
5 events
| when toggle format | what | by | license | comment | |
|---|---|---|---|---|---|
| Feb 27, 2018 at 4:33 | comment | added | cp.engr | "Your terminology is wrong. A 'backdoor' Roth IRA contribution involves ... making a conversion from Traditional IRA to Roth IRA. ...Now all you need to do is convert the Traditional IRA into Roth IRA." What is wrong about his terminology? He did the first conversion which got him to the same place as if he'd contributed directly to the Traditional IRA. Then the "backdoor" speaks of the to Roth conversion. | |
| Oct 11, 2015 at 23:20 | comment | added | user102008 | @Steve: Well, for the non-deductible Traditional IRA contribution, you need to fill out Form 8606 part 1 for the year the contribution counts under, and for the Roth IRA conversion, you need to fill out Form 8606 part 2 for the calendar year that the conversion happened in. | |
| Oct 11, 2015 at 18:02 | comment | added | Steve | what are the tax forms i need to file? | |
| Oct 10, 2015 at 18:07 | vote | accept | Steve | ||
| Oct 10, 2015 at 5:01 | history | answered | user102008 | CC BY-SA 3.0 |