Converting an IRA with Basis
It’s been a few years since I took Ed’s course, but I remember his description of a great trick for converting an IRA where there is after-tax money in the account. Now I might have an opportunity to employ this trick, but I don’t remember particulars. Can someone help?
Permalink Submitted by Anonymous (not verified) on Tue, 2010-03-30 22:02
The only really savy “trick” I know is finding a qualified plan to accept a rollover of all pre-tax money in the TIRA (which is all that is allowed back) and then converting basis only at no taxes. The big assumption is that this is the only IRA you have, otherwise you still have to deal with the pro-rata dance…..
pko