Yes. You can contribute the maximum yearly amount to a traditional IRA, then convert it to a Roth, commonly referred to as a "Backdoor Roth". For both 2024 and 2025, the yearly IRA maximum contribution was $7,000. Both years allow an additional $1,000 if age 50 or older. You still have time to make a contribution (until 4/15/25) and have it count as a 2024 contribution if you haven't done so.
What you will do is open up a brokerage account, opening both a traditional and Roth IRA. Then, make your contribution directly to the traditional IRA. Keep checking your account until the funds settle. As soon as the funds settle, immediately withdraw the funds and choose to deposit them into the Roth. The reason that you want to do this right away is that any earnings you make while the money is in the IRA become taxable upon conversion.
Then, you will receive a 1099-R from your brokerage for the year you made the withdrawal. In TurboTax you will enter the 1099-R and indicate that a rollover occurred. Here's our guide to reporting a backdoor Roth: How do I enter a backdoor Roth IRA conversion?
