Fidelity 里有几年的traditional IRA 忘了转去backdoor Roth IRA, 打算年初一并转去backdoor Roth IRA, file 2023 的tax. 但是注意到Fidelity 里显示2023 IRA contribution $0 left.
First, don't call it "backdoor ROTH IRA". It is just normal ROTH IRA conversion.
有以下几个问题：
1. Fidelity 里面针对IRA limit 不是针对backdoor IRA. Yes or no?
Yes
2. 只要file8066，可以转more than 1x traditional IRA 去back door Roth IRA. Yes or no?
You can convert unlimited amount in your traditional IRA to ROTH IRA. No matter your tradtional IRA was tax deductible or not. You can convert all of your tradtional IRA account balance, contribution over multiple years, over to ROTH IRA in one single conversion.
IRA conversion means: convert from your traditional IRA money to your ROTH IRA account. You can do this any time, for any amount. There might be tax involved. But IRA conversion is a legal concept, not a financial trick.
Backdoor ROTH IRA contribution: this is a legal/financial trick. It involved two steps: (1) contribute to your tradtional IRA (up to an annual limit); (2) convert your tradtional IRA contribution in (1) into your ROTH IRA account, using the legal concept of IRA conversion. Because it involves (1) contribute to your tradtional IRA, the "backdoor ROTH IRA contribution" has deadline and amount limit.
Some of the "backdoor IRA" people are talking about on this forum is merely just IRA conversion.
Fidelity 里有几年的traditional IRA 忘了转去backdoor Roth IRA, 打算年初一并转去backdoor Roth IRA, file 2023 的tax. 但是注意到Fidelity 里显示2023 IRA contribution $0 left. 有以下几个问题：
1. Fidelity 里面针对IRA limit 不是针对backdoor IRA. Yes or no?
2. 只要file8066，可以转more than 1x traditional IRA 去back door Roth IRA. Yes or no?
Fidelity 里有几年的traditional IRA 忘了转去backdoor Roth IRA, 打算年初一并转去backdoor Roth IRA, file 2023 的tax. 但是注意到Fidelity 里显示2023 IRA contribution $0 left.
First, don't call it "backdoor ROTH IRA". It is just normal ROTH IRA conversion.
有以下几个问题：
1. Fidelity 里面针对IRA limit 不是针对backdoor IRA. Yes or no?
Yes
2. 只要file8066，可以转more than 1x traditional IRA 去back door Roth IRA. Yes or no?
You can convert unlimited amount in your traditional IRA to ROTH IRA. No matter your tradtional IRA was tax deductible or not. You can convert all of your tradtional IRA account balance, contribution over multiple years, over to ROTH IRA in one single conversion.
IRA conversion means: convert from your traditional IRA money to your ROTH IRA account. You can do this any time, for any amount. There might be tax involved. But IRA conversion is a legal concept, not a financial trick.
Backdoor ROTH IRA contribution: this is a legal/financial trick. It involved two steps: (1) contribute to your tradtional IRA (up to an annual limit); (2) convert your tradtional IRA contribution in (1) into your ROTH IRA account, using the legal concept of IRA conversion. Because it involves (1) contribute to your tradtional IRA, the "backdoor ROTH IRA contribution" has deadline and amount limit.
Some of the "backdoor IRA" people are talking about on this forum is merely just IRA conversion.
a) 如果收入高，不能直接向1里面放钱；但可以间接放钱，这也就是所谓的后门(Backdoor Roth Conversion)。
b）如果有2、没有3，把钱从2搬到1，本金不交税（因为已经交过了），收益（应该很少）交税。
c) 如果有3、没有2，把钱从3搬到1，本金需要交税，收益也需要交税。很多人计划退休后收入降低时，有计划地这样做，从而到达降低（多年）交税总和。
d) 如果2和3都有， 这个就比较复杂，需要根据Prorata的规则去计算。
俺的理解，如果有不准确的地方，请指正。