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Personal Investments • Avoiding pro rata rule when doing back door roth

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When you rollover an IRA, does it actually close the IRA account (rollover/traditional) or just zeroes it out? In other words do you have to then open a new one for the purposes of doing backdoor conversations.
My form had a checkbox if I wanted to close the account. Considering it takes 30 seconds to open a new account at a brokerage who you already do business with, it shouldn't matter either way.

Statistics: Posted by toddthebod — Tue Apr 02, 2024 1:06 pm — Replies 12 — Views 394



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