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Hi All, Im a high income earner. For the year 2024, I coudnot contribute directly to ROTH IRA so i put 7000$ into trad IRA and moved it to Roth IRA once it was available. In the few days where funds were available ,there was a 7.60$ earnings accumulated in my trad IRA. I moved the 7000$ to roth IRA but the earning 7.60$ is still sitting in my trad IRA account. What do i do with the earnings? If i want to the same backdoor IRA for next year 2025 , how should i deal with these accounts? The trad IRA should have 0 balance while doing backdoor IRA?
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