Hello
I want to do a spousal backdoor roth. Spouse works, I don't as I'm on disability, on medical leave. A few issues that are roadblocks:
1) Have a rollover IRA with a large balance
2) Have a 401k with my employer (but not working, on medical leave) with a small balance.
I'm trying to figure out what to do with the rollover IRA balance, as that would be a problem come tax time because of the pro-rata rule.
Anyone have an idea what I could roll the IRA into? It seems like there aren't any good options unless I'm missing something. I know I could potentially rollover the IRA into my employer 401k but I would prefer not to do that, I don't have investment flexibility.
Thanks in advance!
original posted by creakyt to r/personalfinance on Sun, 21 Apr 2024 15:03:03 GMT.