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Reply to "Bill proposed to crack down on backdoor roth (and other loopholes) "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I just started doing a mega back door in 2020. Hopefully this doesn’t pass[/quote] I hope it does so that you get no benefit from it.[/quote] I am poor by DCUM standards. [/quote] +1 I am all for taxing the rich but this seems like small potatoes on what they should be focusing on. [/quote] The whole reason they are doing most of this is to fund the spending bill. What potatoes do you suggest they go after, if not these? The estate tax? Step up basis on stocks? 1031 real estate exchanges? (Those are 3 that I think could have attention paid to them.) Agree closing backdoor roth is not really generating any immediate revenue, but is an obvious loop hole, and it will increase tax revenue in the future by forcing people to just use taxable accounts, which already have a defined tax treatment.[/quote]
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