@hyunil96tax , great question!
For now, there is something called a "Backdoor Roth IRA".
This is considered to be a method used by some high-income taxpayers that are not able to contribute to their IRA because of income limits.
This method allows you to contribute to your IRA and then roll it over or convert it to a Roth IRA.
In order to create a Backdoor Roth IRA, you will want to discuss this option with your financial planner.
During the next tax year, you will receive documents from your brokerage account to help report and pay any taxes that might be owed when the transfer occurs.
Your financial planner should be able to help you to contribute to your IRA, and then roll over the money to a Roth IRA.
Feel free to review the following official TurboTax website for more information about a Backdoor Roth IRA, as well as for help on how to report this conversion on your tax return using TurboTax.
https://ttlc.intuit.com/turbotax-support/en-us/help-article/retirement-benefits/enter-backdoor-roth-...
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