[Julie]

Are there limits to how much you can roll over each year or best time when you should do it?

Thanks.

[Christopher]

Limits are how much you can afford for taxes. Best time of year is when gains are minimal to minimize taxes.

[Amy]

You want to do a backdoor Roth conversion or you just want to convert your tIRA to Roth IRA? The backdoor is a specific maneuver that requires all pre-tax IRAs be empty.

I’m going to guess you want to convert your tIRA to Roth IRA. If your tIRA contains only pre-tax dollars, you’ll owe tax on the full amount converted to Roth. If you have a mix of pre-tax and post-tax dollars in the tIRA, you’ll be subject to the pro-rata rule when converting, which means you’ll owe tax proportionate to the pre-tax dollars that are in the tIRA.

Don’t miss: Contributing to IRAs in retirement? Doable?

[Author]

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