{ "media_type": "text", "post_content": "Does anyone have any experience with $.01 being left in their traditional IRA after a back door Roth IRA conversion? I called my broker and they basically told me I can (i) take the .01 as a disbursement, (ii) convert that $.01 to my roth or (iii) they file an excess removal for it. These all seem like events that will mess up tax filings.. but I’m not sure how to get rid of this $.01", "post_id": "6266a827a57770002bd35f95", "reply_count": 11, "vote_count": 1, "bowl_id": "59064a3cb12379001006592c", "bowl_name": "Personal Investment Chatter", "feed_type": "bowl" }

Does anyone have any experience with $.01 being left in their traditional IRA after a back door Roth IRA conversion? I called my broker and they basically told me I can (i) take the .01 as a disbursement, (ii) convert that $.01 to my roth or (iii) they file an excess removal for it. These all seem like events that will mess up tax filings.. but I’m not sure how to get rid of this $.01

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Leave it or convert it. It doesn’t matter. It will not mess up tax filings since your return rounds everything to a dollar. I cent is the same as zero. I just leave it to next year

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I have had a dollar or 2 in the past. It is no big deal and a penny or 2 is really no big deal

You can backdoor $6,000.01 next year. Backdoor doesn’t have contribution limits.

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Yeah

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I had $.05 left in an account after a rollover. After 3 or 4 years, they just sent me a check for $.05 to close out the account. Probably cost them $10 in paper statements and administration fees because they didn’t do the rollover for the entire amount accurately. I didn’t feel bad 🤷‍♂️

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They did the rollover accurately but the couple cents was probably accrued dividends that were paid after the rollover

Yeah. I just left it for the next year.

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