tastethesaltinthesea OP t1_iubvh6p wrote on October 30, 2022 at 3:28 AM

Reply to comment by Mashtatoes in Question about backdoor Roth with large Traditional IRA by tastethesaltinthesea

Thanks for the quick response! Is there any tax implication after I move the IRA to 401k? In other words, do I need to wait until the next year or anything before doing the backdoor roth?

Mashtatoes t1_iubw2h1 wrote on October 30, 2022 at 3:33 AM

No. You can roll it over whenever. Make sure you follow all the rules about rollovers (within 60 days etc. if it’s indirect) and you’re golden.

harrisc42 t1_iubzqy6 wrote on October 30, 2022 at 4:10 AM

The only thing that matters is the traditional IRA balance at the end of the year. So as long as you move that money out of the IRA and into the 401k by the end of the year, you'll be fine.

You will stay pay taxes on your wife's IRA conversion.

tastethesaltinthesea OP t1_iud2q63 wrote on October 30, 2022 at 12:32 PM

Thanks!