Need help cleaning up IRA/401k

Submitted by Trytofindmenowbitch t3_z94t95 in personalfinance

Hello,

I have a Traditional IRA that I've made post tax contributions to since 2013 (Max limit each year). in 2019 I left a job and rolled my 401k into this Traditional IRA. I now realize this is keeping me from doing a backdoor Roth.

What I'd like to do is roll what I can into my current 401k (like I should have done before), but I'm having trouble sorting out what I can roll. Am I limited to the original pre-tax amount that I rolled in from the old 401k, or can I roll in the whole thing? The pre-tax money has of course grown, plus it is intermingled with post-tax money.

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Werewolfdad t1_iyf09p8 wrote

Are you saying you made non deductible contributions to an ira? Or did you deduct them on your taxes?

Did you file your form 8606 each year?

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FckMitch t1_iyf8j1m wrote

This is what I did:

  1. Check that plan allows it . I had to fight the company by pointing out the plan and the IRS allowed it. The administrator had said no.

  2. Rollover only the gains - I left a little over the post tax amount in the account

  3. Backdoor thé what was left in account to a Roth and paid the tax on the difference

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Trytofindmenowbitch OP t1_iyfa5y4 wrote

To make sure I understand, as long as the plan allows (they do), I can put the original pre-tax 401k balance plus any gains into my new 401k? This then leave my nondeductible contributions which I can then convert to the Roth?

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