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Reply to "Explain steps of back door Roth to me like I'm 5, please"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]This is OP again. Is there any rush to convert, or can I just leave the money in the traditional IRA, report it as such on my 2023 taxes, and sort this out later?[/quote] Yes but if it earns any interest you're creating a headache later. Best do it right away. [/quote] What's the headache? Does it just cost money or do I need to know cost basis or some other information I might not have?[/quote]
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