BackDoor Roth Clarification
Are the non-deductible contributions to and IRA, for the purposes of a back door Roth, still subject to the income limits in order to contribute?
Are the non-deductible contributions to and IRA, for the purposes of a back door Roth, still subject to the income limits in order to contribute?
Permalink Submitted by PaulC on Tue, 2024-04-02 15:18
There are no income limits for making nondeductible contributions to a Traditional IRA. Earned income of at least the amount of the contribution must be present during the tax year. Whether the IRA contributions are going to be converted to a Roth IRA is not a relevant factor.