Please explain to me like i am 5yo... backdoor roth.
1) I have an old 401k that i rolled over to a traditional IRA 5 years ago. I have not contributed anything to the traditional IRA since i left that company in 2013.
2) i have a roth IRA that i opened 2 years ago. 2021 is the first year that i will hit income limits.
3) I have an HSA and company sponsored 401k that i contribute the max to (part roth, part trad)

Traditional IRA = $52k
Roth IRA =$13k
401k= $250k
HSA=$3k
What do i do for 2021?

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Definitely check with your 401k provider at your current co to see if you can roll your trad Ira into your 401k. You’ll avoid pro-rata taxes.

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That’s great news. If you follow this path of clearing out your trad IRA funds, your Roth conversion will be the full value tax free. No pro rata, bc pro rata only impacts IRAs, not 401s

Entire balance at risk for taxing.
1 Roll traditional into 401k
2 add BD Roth $ into now 0 balance ira
3 convert and pay tax on small $ amount

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So will i end up with a 2nd roth ira after converting?

Im with fidelity

If you can’t roll traditional into 401k, you can always open another traditional IRA at a different broker and avoid that whole mess

No. It’s the sum of all accounts regardless of broker. Making a new account at a new broker just makes new headaches.

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