After-Tax IRA Contributions and Roth Conversions

After-Tax IRA Contributions and the Pro Rata Rule and Backdoor Roth.
Roth IRA Contribution limits and IRA Deductibility limits.
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The Holistic Retirement Planning Revolution
www.amazon.com/dp/1733593918/​...
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[@francisca1822]

The only Americans with good retirement are government workers and I bet they got dental and vision and paid prescription

[@larryuw]

You can convert pretax Ira to 401k, and then do the backdoor conversion. In this way, all Ira will be non deductible.

[@srinip825]

Thanks for great video. So if converted 100k in this case and paid taxes on the 93k, then for next year the slate is clean. Any after tax IRA contribution annually say 7k can be converted to Roth tax free each year. Is my understanding right?

[@rajvo7406]

Why don't you show viewers how people like me could potentially contribute in excess of 30,000 a year to Roth IRA

[@milliehummel]

I happen to watch your video many times to make sure I understand it.

[@dapperlink]

I only had to watch you once to get it, but watched it again anyway to seal the deal. Congrats and thanks to you. I've been trying to understand After Tax ROth Conversions and Pro Rata for years and it didn't make sense. It was because no actually gave me a real life example of how you get After Tax money mixed with Pretax money in the first place. The reason is, I'd never done it. I always calculated to contribute to my 401k roth and traditional accounts and never thought to go over the max per year, so according to what I just learned, I've never mixed pre and after tax money in an account to worry about pro rata rule. Thank you again!

[@al-ojoremoma6119]

Thank you very much, Lane. Like an angel suddenly coming into my life. May you and all who you hold dear be blessed. I fall into the category you addressed. I love the encouragement to have faith in God. I love the encouragement to believe in longevity, to truly and finally live a fulfilled life. Thanks

[@laurenpan4037]

I recently found your channel and love it! I forgot to file 8606 for 2019 and 2020. Can I file retroactively? Thanks so much.

[@hornbaker]

Care to comment on the option of rolling pre-tax IRA funds into your 401k (if you have one) as a way to avoid the IRA pro-rata rule?

[@NghiaPham-xi5so]

What happen if you have only 1 traditional ira with only after tax tollars? Do you have to report that contributions as ordinary income? If not, what form do you have to fill out? Thanks

[@BRTardiff]

This is explained exceptionally well. Thank you. I have the same question as someone below, but I want to make sure your answer applies to me as well.

[@nerdforlife6544]

Thank you so much for this video!!!

[@drewtravis155]

Best video I’ve seen on the concept this far, thanks!

[@julhe8743]

Wow I was more confused 😳😳ty for the video I have to watch again and again.

[@TheKiman2]

Wow, incredibly helpful! Thanks for covering such a specific use case of trying to convert over after-tax TIRA to a Roth. I have this situation and was looking around for answers. Though, 100% of my TIRA is after-tax, so based on pro rata, I shouldn't be tax on the conversion. However, what happens to the capital appreciation amount that occured in the TIRA account over the last few years? Will that portion get taxed?

[@alowe338]

I was told by my investment co that since I am retired both Roth and regular Ira are not available for me to start.

[@sng9223]

thanks so much, very helpful !!

[@jasonjohnstone1297]

Hi Lane... Quick question... I opened up a traditonal IRA and Roth IRA. I have a 401K through my employer. I contribute $6.5K (post-tax) into the traditional IRA and then do the conversion. I have no other monies in the traditional IRA. When I do the conversion, am I paying taxes again on that $6.5K conversion into the Roth? At the end of the video, in your example, you mention eventually carving out the pre-tax dollars and you WILL NOT pay taxes on the after tax dollars that get converted. So, just checking based on my scenario... newly created trad IRA and roth... trad being funded with after-tax dollars, then converted... Am I being taxed on the conversion? Thanks! (apologies as I know this video was over a year old).

[@generic_official]

If you convert a traditional IRA to a ROTH and pay tax on the distribution, is there a waiting period to be able to draw upon that ROTH? I heard 5 years.

[@OfficiallyKiaraJ]

Hello, Can you speak on back door Roth if you are married and filing separate? I know you can’t fund a Roth IRA if you are married and filing separate if you make over 10,000 a year so I wanted to know more info about doing a back door Roth IRA by first contributing to a traditional ira than converting it.