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Can a person do a clean Backdoor Roth IRA without triggering the pro rate rule even though their spouse has an IRA with money in it?
↗ https://reddit.com/r/investing/comments/1p3ii3f/can_a_person_do_a_clean_backdoor_roth_ira_without/
My spouse did a backdoor Roth IRA to avoid income limit. Problem is that I actually have an IRA that has money in it. Does my having this IRA ruin the whole thing? Is there anything I can do at this point? Would it help if I liquidate my IRA and convert to a 401k? This happened 4 days ago and I assume it would take me another 4 days to convert to 401k?
Will we be in trouble or we just pay income taxes on the Roth IRA conversion and that is it?