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Originally Posted by iDumb
1. No. SEP IRA is an IRA that has pre-tax money. You need to roll that over to your 401k before you can do a conversion from traditional to roth. Otherwise you will be subject to pro rata rule and will end up owing taxes on some portion of money in ur sep ira. I know u probably wrote it by mistake but the term needs to be clear not to make any mistakes. You would be doing a convertion not roll over of a traditional IRA (that u funded with non deductible fund due to ur high income) to a Roth IRA. The process is called a backdoor roth. There is no such a entity as backdoor roth. It's simply roth ira.
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1) So for my SEP IRA I'll need to do a "roll over" to "Traditional IRA" which is within 401K, before converting to Roth IRA, is that correct?
2) When you do the roll over or conversion you do not need to sell any stocks do you?