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My income is increasing and I won’t qualify for a ROTH IRA. Is there a way around this? (Backdoor ROTH IRA)
Hi,
My income is increasing and I won’t qualify for a ROTH IRA. Is there a way around this?
I have heard that there is "Backdoor ROTH IRA" method to do that. But, I am not sure how to do it.
Currently, I have a Traditional IRA account to which I have transferred my previous 401K money.
Would you help me? Particularly, how to pay taxes during the process.
June 26, 2024
9:39 AM