My wife and I currently contribute to traditional IRAs. The last several years we have not been able to deduct the contributions due to high salary and a retirement program at my employment. Essentially, this makes the IRA path useless so am looking into doing a backdoor IRA conversion. My question is since I already have a traditional IRA with a balance for several years, can I still convert to a Roth IRA? I'm thinking I would just contribute the original contribution amounts (none of the earnings) and this would make it okay? Appreciate any feedback and guidance needed to complete this process. Thank you!
