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The IRS knows that, and in the end, the result will be the same, so what’s the point of wasting time and money on the issue.Second, the IRS has no idea how long I waited to convert.No more wading through dozens of books at the library, scrolling through hundreds of blog posts on dozens of or checking in daily with online forums trying to gain a financial education the way the hobbyists do.
This rule basically says that if the sum of a bunch of legal steps is illegal, then you can’t do it.
Since a high earner can’t legally make a direct Roth IRA contribution, then some have wondered if the IRS will really allow them to do it “through the backdoor.” Ed Slott, Mike Piper, Harry Sit, and Forbes have recommended waiting a short period of time (anywhere from a day to six months) before doing the conversion so you can prove that wasn’t really your intent.
You can now invest the money as per your investing plan.
Some people are concerned that the IRS will have a problem with the Backdoor Roth due to an IRS rule called The Step Transaction Doctrine.
There are tens of thousands, perhaps hundreds of thousands, perhaps even millions doing this each year. You would think if the IRS really cared about enforcing it, that they would at least make an announcement about it, which they haven’t.
Nor have I heard of a single person who had this looked at in an audit.
Chances are ridiculously low that I’m going to be the first.
If they start auditing people over this issue, then people like me will start waiting a few months.
If you don’t do it right, you’ll pay taxes twice on your Backdoor Roth IRA.Tags: Adult Dating, affair dating, sex dating