rbynaker
Level 14
02-14-2024
04:50 PM
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Pub 590B addresses this and details the ordering rules:
https://www.irs.gov/publications/p590b#en_US_2022_publink100089915
I love that we're halfway through Feb already and the 2023 pub hasn't been finalized yet. I find the PDFs easier to read/follow (especially if you have to use one of the worksheets) so it might be easier to read here:
https://www.irs.gov/pub/irs-pdf/p590b.pdf
Jump to Roth IRAs starting on page 31.
Or if you can tolerate the watermark on every page you can read the 2023 draft here:
https://www.irs.gov/pub/irs-dft/p590b--dft.pdf