vacationer wrote:4. I was reading online and came across an article on the benefits of a Roth versus a TIRA and saw a comment that concerned me a bit: “You have to be careful if you have other zero basis (pre-tax) trad IRAs because the IRS does not allow you to pick and choose which basis (or lot) you want to use for the money you are converting.” I am not quite sure I follow what the comment is referencing? Any assistance with explaining that a little clearer would be greatly appreciated.
vacationer wrote:Thanks for the feedback. I think I understand now, I was a little confused because we have a 401K (my wife) and I wasn't sure if that would be included or not. But then I realized 401K is not considered a TIRA because it is funded with pre-tax dollars.
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