I am not eligible to make a 2018 Roth IRA contribution. So can I make the 2018 contribution to my Traditional IRA and them move it into my Roth IRA?
You'll need to sign in or create an account to connect with an expert.
What you are describing is called a "Backdoor Roth". So yes you can do that but there is one BIG caveat. If you already have ANY existing Traditional IRA account, then only a part of the conversion will be not taxable.
What you are describing is called a "Backdoor Roth". So yes you can do that but there is one BIG caveat. If you already have ANY existing Traditional IRA account, then only a part of the conversion will be not taxable.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
acordes4
New Member
darylwalker1
Level 3
KCTW
New Member
darylwalker1
Level 3
jeanina3
New Member