Pour off all the dollars except the basis (line 14 on the last 8606) into the 401k. Convert the basis to Roth with no tax. If it makes you more comfortable, leave a buffer of $10 or whatever in the IRA and pay tax on that $10 as the result of the conversion.I have a traditional IRA with a mix of pre-tax and post-tax contributions, and I've reported the post-tax ones on Form 8606. I'm thinking about moving the pre-tax dollars and earnings into my current employer's 401k, and then converting the post-tax dollars and earnings to a Roth IRA. I'm hoping that this would help me take advantage of the backdoor Roth IRA strategy in the future.
The only way to do this is to exchange it all to money market before you do it. Otherwise, you are working with a changing amount of dollars and might accidentally send some basis to the 401k.
Statistics: Posted by retiredjg — Mon Aug 12, 2024 12:16 pm — Replies 6 — Views 589