Residual

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ryanbohle
Posts: 167
Joined: Tue Oct 29, 2019 9:20 pm

Residual

Post by ryanbohle »

I have $8 dollars left in my IRA account after doing my backdoor Roth conversion. Am I going to go to jail?
steadyosmosis
Posts: 1177
Joined: Mon Dec 26, 2022 11:45 am

Re: Residual

Post by steadyosmosis »

ryanbohle wrote: Wed May 15, 2024 7:08 am I have $8 dollars left in my IRA account after doing my backdoor Roth conversion. Am I going to go to jail?
Not for that.
Age<59.5 | Early-retired | AA ~55/45 | Taxable=100% VTI | Roth IRA=97% equities | HSA=94% equities | Traditional IRA=100% fixed income | I spend from the taxable account |
HomeStretch
Posts: 11774
Joined: Thu Dec 27, 2018 2:06 pm

Re: Residual

Post by HomeStretch »

Convert it to Roth and pay any (minimal) taxes.
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