Best timing for a Backdoor Roth?
OutFishing
Member Posts: 13 Level 4
Hi,
This year I made nondeductible contributions to an IRA, which I will be converting to a Roth. This is my first backdoor Roth conversion. When is the best time to make the conversion? Should I wait until I file my taxes, which I normally do around the end of February or first week March?
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Best Answer
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Hi Outfishing.
Thank you for the question. The best time to make the conversion is in 2024 BEFORE the end of the year. that way you get all the appropriate paperwork and 1099-R forms and 5498s. Here is an article that can read.
https://community.freetaxusa.com/kb/articles/59-reporting-a-backdoor-roth-basic-scenario
