Traditional IRA vs Roth - Page 2 - Business, Finances and Investing Forum

Amoeba,

In every post you have completely glossed over the problem with a backdoor Roth IRA if you have s traditional ira. Are you aware of the massive tax liability someone with substantial traditional Ira assets would incur doing s backdoor Roth?

Did you read that link which shows how to calculate the amount of taxes owed?

And as for my response to inwiththebest, he is already doing back door Roth so it can be assumed that his traditional assets are minimal.

Quote

05-25-2015 , 10:59 AM

#27

LT22

Carpal \'Tunnel

Join Date: Aug 2007 Posts: 12,842

Quote:

Originally Posted by amoeba

Except the part where he says his wife is going to soon roll a pension to IRA

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05-25-2015 , 05:28 PM

#28

InWithTheBest

grinder

Join Date: Sep 2005 Posts: 480

Quote:

Originally Posted by LT22

Except the part where he says his wife is going to soon roll a pension to IRA

Right and I wanted to fully understand the differences to figure out if it was worth converting the entire amount to a roth and paying the tax bill now.

I believe if we leave hers in a traditional and make > ~190k , I could continue to backdoor a roth without tax consequences for my IRA (since i have $0 in traditional IRAs) but her IRA would become a problem in that regard.