Backdoor Roth
Can you do more than one backdoor Roth in the same tax year? For instance if in January you funded the IRA for 2022 and converted the assets to Roth. Can you fund the IRA in Dec 2023 with the 2023 contribution and roll the asset to the Roth.
Permalink Submitted by Alan - IRA critic on Thu, 2023-12-07 16:38
Yes, this can be done. There is no limit on the number of conversions that can be done. Reporting will also be somewhat easier if you are making current year contributions rather than prior year contributions since the conversion and the contribution will be on the same 8606 form. For your 1/23 prior year contribution to be reported on a 2022 8606, the conversion of that money will be on your 2023 8606 along with your 12/23 ND contribution and conversion.