spousal ira and backdoor Roth conversion
Just double checking on this strategy…
Husband is high wage earner with 401(k) plan, spouse is non-working and has no IRA accounts. We set up a spousal IRA for her and make a non-deductible contribution, then immediately convert that to a Roth IRA.
Any caveats or problems with this strategy?
Permalink Submitted by Alan - IRA critic on Thu, 2021-02-04 19:20
Not a problem, this is the typical back door Roth contribution via conversion.