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Get your taxes done using TurboTax
The Backdoor Roth IRA contribution limit is the same as the IRA contribution limit for a given year, since you need to make a non-deductible IRA contribution to then convert it to a Roth IRA. The IRA contribution limit for 2022 is $6,000 per person, or $7,000 if the account owner is 50 or older. The IRA contribution limit for 2023 is $6,500 per person, or $7,500 if the account owner is 50 or older. So if you want to open an account and then use the backdoor IRA method to convert the account to a Roth IRA, that's the maximum you can contribute.
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‎November 16, 2022
3:46 PM