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A Roth conversion refers to taking all or part of the balance of an existing traditional IRA and moving it into a Roth IRA.

3 votes

Question about taxes on Roth backdoor IRA

Breaking this down into tax years, you made a $6,000 traditional IRA contribution (non-deductible) for 2021 (in early 2022) and a $6,000 traditional IRA contribution (non-deductible) for 2022. To reco …
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0 votes

Approaches to filling up tax brackets - which one makes the most sense?

It depends. Are you in accumulation mode or primarily in a withdrawal phase? Is your primary goal to maximize the 12% ordinary and 0% long-term gain brackets, or is it balancing current-year savings w …
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4 votes
Accepted

Tax on Company Stock held in 401(k) plan when doing a Roth Conversion

The entire $30k converted from your Traditional 401k to your Roth IRA would be taxable as income, regardless of whether it was originally your company's stock, cash, or other investments. You also don …
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