Searching for recommendation/experience. I had a standard (rollover IRA) with roughly 200k that I simply closed (April 2025) and transferred to employer 401k. I want to fund backdoor Roth (7k) for 2025.
If I open a brand new IRA with Schwab, deposit put up tax {dollars} after which switch that cash to a longtime roth with Schwab would I be topic to pro-rate rule on the earlier 200k that I had within the previous conventional IRA?
Will any of this make submitting taxes for 2025 a headache? I normally do it myself on free tax usa
Thanks!