Hi all,
I am hoping to contribute $6500 for myself and my wife in early Jan to our IRA. We both currently have a traditional and roth accounts and both have 401K accounts at work. In 2023, I expect our combined income to be around $225K due to OT for projects we both going to be working on. With that high income, can I open a new Traditional account that is empty and then once the money clears, backdoor it to the existing Roth IRA. Would this be OK to do or is there a better way?
