This is my first year contributing to an IRA, and I did the 6500 for 2023 in February. At the time, I wasn't thinking of directly contributing to a Roth, but I contributed with post-tax funds. Will I be taxed for this as I did a conversion from traditional to Roth? Right now the funds look like this:
- Rollover IRA from previous employer that I added to with post-tax money (right now has 11K in it, had both last week)
- Roth IRA converted, traditional IRA kept separate
I am a little confused, after reading something on WCI noting I should roll back the traditional funds into my 401K potentially? Is it enough to have these separate?
original posted by agencypersonaccount to r/personalfinance on Mon, 04 Mar 2024 13:32:18 GMT.