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Showing content with the highest reputation on 09/30/2021 in Posts

  1. My high school football coach was a survivor of the Bataan Death March. Ironically, his name was Max Beam. Coach Beam didn’t have any patience with slackers, and he always said we were too soft & had no idea what hardship was. Wonder what he’d say about today’s generation?
    3 points
  2. As I understand her post, the Roth contribution was recharacterized as a nondeductible traditional contribution. In that case, the original contribution is treated as going to the nondeductible traditional as if the roth contribution never happened.
    1 point
  3. Your post are a little confusing but I think I now understand your situation. Your client made a Roth contribution but income level was to high, so it was recharacterized to a nondeductible traditional IRA. Let's say for example the contribution was $6,000. Your client can now do a back door Roth by moving the $6,000 to a roth by a rollover or trustee to trustee transfer. That would be an irrevocable conversion once completed. If your client has made tax free traditional contributions he is subject to tax on the conversion due to the pro-rata rule.
    1 point
  4. @Catherine The Bataan Death March! What an analogy, but I doubt that anyone will be bayonetted for not showing up for work on Monday. I wonder how many people on this board even knows what it was.
    1 point
  5. Yep, I use it from time to time; because this year more than ever, I want them all e-filed. Always file to start the SOL running.
    1 point
  6. Thanks everyone! The $1 suggestion worked and saved me the hassle of paper filing!
    1 point
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