My firm affords me an after tax (not Roth) contributions with the all of the situations wanted to make the most of the Mega Backdoor Roth tax loophole. Presently, I’ve a ton of cash sitting in brokerage accounts and a thought got here in my head. Why do not I unload a number of the shares (these which can be >1yr previous) in my brokerage, cowl the taxes, and put the remainder into this account? I get the tax free development and the cash in my brokerage aren’t something I’ve any quick time period want for. What are the downsides of me doing this moreover paying taxes?
