I have a $0 dollar t-IRA at Vanguard I use to contribute my max IRA amount each year, and then CONVERT that contribution to a Roth-IRA.
However... at Fidelity, I have a separate t-IRA (rollover) account with a large balance.
I've seen warnings to Backdoor Roth contributors to consider the FULL amount of ALL t-IRA accounts when doing the conversion, and some constraint that things must be done by 12/31 of the calendar year.
Q: Do I owe taxes on the funds in the Fidelity t-IRA even though I didn't touch this account? (i.e. all contributions/conversions were done at Vanguard)? If so, do I owe tax on the FULL BALANCE of the t-IRA, and/or must I convert the full amount to Roth by end-of-year?
[the concern here is at 28%, this potentially large bill is not budgeted for, and would set back my FIRE date by 6-8 months]
[I've reached out separately to 'thewealthyaccountant', but appreciate adding any help here to self-administered face-punches...]