HasaniJ
Employee Tax Expert

Self employed

If you're doing a true back door Roth it means you are beyond the income threshold for receiving a tax deduction on your traditional IRA and you're also phased out for income purposes regarding a Roth IRA.  This means the money going into the IRA should be after tax dollars which will then be transferred into a Roth.  You will receive a 1099R to be used for filing on your next tax return where no additional taxes should be paid.

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