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Don\'t wait too long to make your backdoor roth contribution...

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  • Don\'t wait too long to make your backdoor roth contribution...

    I went to convert my nondeductible IRA contributions and Vanguard told me there are "no holdings available for conversion."  Looks like I'll have to wait up to seven days for my contributions to clear.  Glad I didn't wait until 12/30!

  • #2
    yup. good advice.

    also easiest to do the 1st week of the year if possible.

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    • #3
      If you put them in the Prime MMF instead of the sweep account, you can do it the next day. Learned that lesson back in January.

      Bear in mind that doing it before 12/31 does make your 8606 a little easier, but it isn't required. You have until your tax filing date (usually Apr 15, but perhaps as late as October) of next year.
      Helping those who wear the white coat get a fair shake on Wall Street since 2011

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      • #4
        I haven't had that issue in the past, but like Jim, I use a Money Market fund for my contribution.

        12/31 doesn't matter much except it's the day before I can make the non-deductible contribution for 2018.

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