Submitted by awful-human-being t3_zzn87e in personalfinance
BouncyEgg t1_j2cldhf wrote
You have a pre-existing Traditional IRA?
Or do you have a pre-existing Roth IRA?
It's the presence of a pre-existing Traditional IRA (sourced from deductible contributions) that presents an issue. Having a pre-existing Roth IRA doesn't matter.
awful-human-being OP t1_j2cqbaj wrote
Ah, I only have a pre-existing Roth IRA. I haven’t opened a traditional IRA yet. I’m glad this case doesn’t present issues. Thanks for the response.
BouncyEgg t1_j2cqf1q wrote
Perhaps you would benefit from some good reading material.
Read this for everything you need to know about Backdoor Roth and Form 8606:
Read this list of common screwups and solutions with respect to backdoor Roth. Beware of Screwup #5.
Viewing a single comment thread. View all comments