I have multiple traditional IRAs - one with WF where I transferred 401k from my previous employer and another one with Fidelity which I used in prior years for backdoor roth conversion.
I recently transferred $6k into Fidelity traditional IRA from my checking for the purpose of backdoor roth without knowing of the Prorata rule. But now, I don’t want to do the backdoor conversion for tax purpos. What are my options? Can I just withdraw the funds from Fidelity Traditional IRA back to my checking?

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Can you move your rollover IRA into a current 401k?

helpfullike

this.

Options

1. Roll over traditional IRA balances to 401k and then do backdoor roth.

2. Don’t contribute anymore to IRAs ever. Contact fidelity about reversing the current contributions.

3. Just do backdoor each year and then pay taxes. What bracket are you in.

likehelpful

Pro rata rule is a b

agreed. I would move IRA money into a 401K, so I had the liberty of doing a BDR without needing to deal with pro rata

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