I am still trying to figure out how to deal with the pro-rata part of next year's taxes if I do a backdoor roth IRA. My portfolio consists of the following (#s given as examples):
My total roth, traditional, and rollover IRAs between scottrade and fidelity: $60,000.
Active:
401K $70,000
403b $1,500
457b $5,000
wife's: total roth, traditional, rollover IRAs (also with scottrade/fidelity): $12,000
Active 403b: $5,000
Do I need to move all our IRAs to within the 401k (or 403b for my wife) and then start the backdoor roth IRA process to minimize the prorata? or how should I do this? Thanks!
My total roth, traditional, and rollover IRAs between scottrade and fidelity: $60,000.
Active:
401K $70,000
403b $1,500
457b $5,000
wife's: total roth, traditional, rollover IRAs (also with scottrade/fidelity): $12,000
Active 403b: $5,000
Do I need to move all our IRAs to within the 401k (or 403b for my wife) and then start the backdoor roth IRA process to minimize the prorata? or how should I do this? Thanks!
Comment