Reply To: Did I make Roth Conversion of My IRA Basis Taxable? Any Way Out? Sorry, Long Po

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#3205
kaneohe
Participant

I’m assuming the reference to 1/12/98 really was meant to be 1/12/18? Sounds like you understand the issue. I don’t see a way out at this point. You just paid the tax early since you have the remaining basis in the TIRA which won’t be taxed later.

This is a good example of why you need to be the quarterback since you have the global picture. Unless you have a dedicated advisor at Fidelity, the individual reps there may not have been aware of the backdoor Roth conversion you were trying to do even tho they may been aware of the Roth conversion you did.

You might want to post your issue in the retirement forum to catch Alan S.
for the best advice.

  • This reply was modified 2 years, 5 months ago by kaneohe.