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debbiewith2 t1_iucqb5f wrote

Your wife’s can be converted whether or not your plan allows for the rollin. The 8606 is per SSN not per tax return.

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tastethesaltinthesea OP t1_iud1rx6 wrote

I didn't even think about that. Thanks! And I can convert all $22k at once, correct? The annual contribution limit to the IRA is $6k/$7k if I understand correctly, but if the IRA already has contributions I can just move the whole thing to Roth?

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debbiewith2 t1_iud9zov wrote

Correct. Or choose to split over years. Just remember that earnings that accumulate in the traditional will be taxed when you convert. When the market is down, it is cheaper to convert. You’re welcome!

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