qbteachmt
Level 15
04-13-2024
05:15 PM
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"they rolled over the Traditional IRA back to the Roth IRA"
That's a conversion. That's not a new contribution. It would be pro rata taxable based on all of their Trad IRA, SEP IRA and SIMPLE IRA basis to FMV, as well. It's like doing a late backdoor Roth.
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Don't yell at us; we're volunteers