Recharacterizing, Back Door Roth, & Form 8606

[snowman51]

I wasn't- you're right- its pretty clear. My basis is zero as this is the first time doing a backdoor roth

At the end the taxable amount...

[snowman51]

I think i misunderstood that part- I put down 1152 which is how much the intitial 6000 grew by before i recharacterized it to a traditional IRA. So that...

[snowman51]

Sorry, that would have been smart.

Here is the attached image...

[snowman51]

I contributed $6000 directly to my Roth in Jan 2021 and just recharacterized it to a traditional IRA in Dec 2021 as I realized my AGI would be too high....

[snowman51]

Good to know- and I'm assuming you had home owners insurance?...

[snowman51]

I am finishing up training and would like to get all of my insurances lined up.

I would like to get umbrella insurance - however, I live...

[snowman51]

Does Jim put the FYFA course on sale for Black Friday?...

[snowman51]

So I can just contact vanguard and have them recharacterize it to a traditional IRA contribution (which i have until April 2022 to do)- and then moving...

[snowman51]

I tried googling but couldn’t find a direct answer.

what do I do if my wife and I already maxed out our Roth IRA on Jan 1st 2021 but realizing...

[snowman51]

ok sounds good.

So Ill put it towards Roth 403b and hold any leftover in a savings account.

They are institutional private loans...

[snowman51]

Thanks everyone.




- 20% of the $1000 that would normally go to loan payment?
- Roth 403b option available - Marginal...

[snowman51]

Hi everyone,

I'm looking for opinions on what you would do in my situation.

- I am in fellowship with 1.5 yrs to go.
-...