I have mistakenly been contributing to a Roth IRA for 2020 and 2021 while my adjusted gross income (AGI) exceeded the 120k limit.
Therefore, I called Vanguard to recharacterize my contributions to my 2020 and 2021 Roth IRA into a Traditional IRA.
Now, I would like to contribute to my Roth IRA through the backdoor, and I have about 11k in my Traditional IRA.
My question is; can I only contribute 6k of this amount into my Roth IRA? Or can I contribute the entire 11k from the Traditional IRA into the Roth IRA?
If I can only contribute 6k, then what should I do with the remaining 5k in the Traditional IRA? I don’t want to be impacted by the pro-rate rule by having both a Traditional IRA and a Roth IRA.