Backdoor Roth with Old Pre-tax 403b

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Topic Author
Hullmet
Posts: 8
Joined: Wed Aug 21, 2019 3:38 pm

Backdoor Roth with Old Pre-tax 403b

Post by Hullmet » Mon Jan 13, 2020 5:34 pm

Hi everyone,

I think I may have screwed up my backdoor roth strategy for 2019.

I set up a traditional IRA account and deposited 6k, then the following day, it was rollover into my roth IRA.

What I am worried about is that I have an old employer contribution account with Fidelity that is a pre-tax 403b. By having this account will I owe taxes on the backdoor roth conversion? I completely forgot about and am kicking myself.

Thank you,

H

retiredjg
Posts: 38942
Joined: Thu Jan 10, 2008 12:56 pm

Re: Backdoor Roth with Old Pre-tax 403b

Post by retiredjg » Mon Jan 13, 2020 5:49 pm

If it is a 403b, there is no problem. If it is an IRA that you rolled a 403b into...there is a problem.

Topic Author
Hullmet
Posts: 8
Joined: Wed Aug 21, 2019 3:38 pm

Re: Backdoor Roth with Old Pre-tax 403b

Post by Hullmet » Mon Jan 13, 2020 5:54 pm

Thank you for the reply.

To be more specific. I had an employer roth 403b account, I rolled this into a roth IRA with Voya, then transferred to Vanguard.

I set up a traditional IRA account to do the back-door conversion into the above Vanguard Roth IRA.

The account that worries me is the employer traditional 403b account, which is just sitting there, never been touched.

Am I still OK?

Thanks again,

H

retiredjg
Posts: 38942
Joined: Thu Jan 10, 2008 12:56 pm

Re: Backdoor Roth with Old Pre-tax 403b

Post by retiredjg » Mon Jan 13, 2020 6:03 pm

Yes. The only things you have to worry about are traditional IRA, rollover IRA, SEP IRA and SIMPLE IRA. 403b accounts are not a problem.

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