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Retirement tax questions
Yes, you are on the right path for using the backdoor method to contribute to a Roth IRA through converting non-deductible contributions made to a Traditional IRA.
Be sure that you report the non-deductible Traditional IRA contribution as part of your 2024 tax return so that the basis (non-deductible contribution) is captured on Form 8606. This will help you next year when you report the conversion to the Roth IRA.
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‎April 15, 2025
8:00 AM