Let's suppose that you're 30 years old, you don't have any traditional IRA accounts, you make a maximum contribution of $5,500 to a traditional IRA, you're covered by a retirement plan at work, and your MAGI exceeds the level for receiving a deduction for your contribution. After your nondeductible traditional IRA contribution has been credited to your account, you can immediately do a Roth IRA conversion. Since there are no earnings, 100% of your conversion will be nontaxable. This is referred to as a backdoor Roth IRA conversion.
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Don't forget about other traditional IRA accounts

Let's assume in our previous example that you have another traditional IRA account that was rolled over from a 401(k) plan with a value of $100,000. Would 100% of your backdoor Roth IRA conversion still be nontaxable?

The nontaxable amount of your Roth IRA conversion would be equal to your conversion of $5,500 multiplied by a fraction equal to your nondeductible contribution of $5,500 divided by the total value of all of your traditional IRA accounts of $105,500, or 5,500 x $5,500/$105,500, or $287. This results in a taxable amount of $5,213 ($5,500 - $287), or 95% of your conversion amount. Quite a different result compared with the situation where you had no other traditional IRA accounts.

The backdoor Roth IRA conversion is a great strategy for transferring a nondeductible tax-deferred IRA contribution into a tax-free situation provided that (a) you have no other traditional IRA funds, or (b) the value of your other IRA's is less than or equal to the basis in your IRA accounts.
yshe 发表于 4/15/2016 1:51:20 PM [url=http://forums.huaren.us/showtopic.aspx?topicid=2000515&postid=71418111#71418111][/url]

w2 only报税还要这么多钱？

我每年义务一步步帮着朋友报税，一年得报六七个家庭的，连个请我吃饭的都没有过啊。。。
fucka 发表于 4/15/2016 2:45:13 PM [url=http://forums.huaren.us/showtopic.aspx?topicid=2000515&postid=71418964#71418964][/url]

问个问题，现在是还可以买去年的ｎｏｎ－ｄｅｄｕｃｔｉｂｌｅ　traditional IRA 吧，没什么收入限制对马？
blsunday 发表于 4/15/2016 3:15:43 PM [url=http://forums.huaren.us/showtopic.aspx?topicid=2000515&postid=71419442#71419442][/url]

use turbotax ah, no problem. You should review the return before signing. Show them the form instruction. It is pretty clear: Exception 2. If any of the following apply,
enter the total distribution on line 15a and see Form 8606 and its instructions to figure the amount to enter on line 15b. Form 8606 is very easy to follow for this case. Bigger firm might not be a good choice for personal income tax.
peeeepy 发表于 4/15/2016 3:23:25 PM [url=http://forums.huaren.us/showtopic.aspx?topicid=2000515&postid=71419557#71419557][/url]

...你的朋友心得多大啊。。这么多w2和ssn...

瑜伽小妹 发表于 4/15/2016 3:17:03 PM [url=http://forums.huaren.us/showtopic.aspx?topicid=2000515&postid=71419456#71419456][/url]

请问有没有MM知道，能不能专门开一个traditional IRA account就是为了backdoor Roth IRA的。就是说已经有一个traditional IRA里面有钱，但是好像网上说backdoor Roth的话，好像somehow有些复杂，可能原来账户里以后老了取出来时交税时计算有些麻烦什么的。所以想能不能开一个traditional IRA作为backdoor Roth IRA专用的？
trapent2 发表于 4/15/2016 3:35:25 PM [url=http://forums.huaren.us/showtopic.aspx?topicid=2000515&postid=71419709#71419709][/url]

这位mm一看就是有美丽又聪明！！！！！
但现在他们就一口咬定1099r box 2a must flow to line 15b!!! you cannot reason with stupid ppl!
我也想自己报。但是我们家情况太复杂了，涉及好几个洲一堆杂七杂八的form，turbotax上应该没有，所以非得请人报。

hehe, is your 1099r line 2b checked? if so, that means the payer cannot decide the taxability of the distribution even though there is an amount in line 2a (line 2a should be blank when line 2b was checked except for IRAs). There are many stupid pp out there in the firm, lol. and they don't want to admit they made a mistake and always point fingers... typical environment in the firm, hehe
天子呼来不上床 发表于 4/15/2016 3:30:37 PM [url=http://forums.huaren.us/showtopic.aspx?topicid=2000515&postid=71419639#71419639][/url]

peeeepy 发表于 4/15/2016 3:46:08 PM [url=http://forums.huaren.us/showtopic.aspx?topicid=2000515&postid=71419873#71419873][/url]

我只能等cpa有空了以后再跟他们吵啊。
反正去年前年的肯定要amend,希望他们承认错误，今年开始不要再错了。如果他们死不承认错误，我只好以后不做 conversion了。

天子呼来不上床 发表于 4/15/2016 3:02:44 PM [url=http://forums.huaren.us/showtopic.aspx?topicid=2000515&postid=71419266#71419266][/url]

不用吵了，自己file 1040X 就行了。
qianqianmom 发表于 4/15/2016 4:12:50 PM [url=http://forums.huaren.us/showtopic.aspx?topicid=2000515&postid=71420216#71420216][/url]