I cannot find out answer to this question so I am not even sure if this is possible.
Any thoughts would be appreciated.
I am setting up a Roth IRA for my wife who is just a stay home mom.
I am trying to see if I can convert the money in my IRA to my wife's IRA?
If you are wondering if why I am attempting to do this is because I want to have to ability to do backdoor Roth IRA in the future and I believe I will be penalized if I have traditional IRAs when I convert the money from non-deductible IRA to Roth IRA.
Hrm anyone have any opinions on this? Maybe I am lost on this topic altogether.