Jamison asked 3 weeks ago

Hi Matt and team!
I hear you share the benefits of converting from Traditional to Roth, which I love!  I have never heard you discuss if you can convert from traditional to Roth once your have your money inside of a SDIRA?  In 2024, my SDIRA (Traditional) invested $50k into a real estate syndacation deal.  The term on the deal is two years.  I should have converted prior to my IRA investing.  However, I was wondering if I could still do the conversion from traditional to Roth while inside of my SDIRA and prior to any gains from the deal are paid back to my SDIRA?  I was hoping to convert half this year and the other half in 2025 to lessen the tax burden.  Both the IRA custodian and real estate develop group are on board.  I assume I would need to capture a fair market value, open a roth account and work the steps?  Always appreciate your energy and knowledge!