Back Door Roth IRA contribution in 2022
He can high earners still do a backdoor Roth IRA contribution and a backdoor Roth conversion every year. “The backdoor Roth IRA strategy is a legal way to get around the income limits that usually prevent high earners from owning Roth IRAs.” Has this loophole been eliminated? Thanks.
Permalink Submitted by Charlie Pesiridis on Mon, 2022-10-31 20:47
A backdoor Roth IRA is a completely legitimate way to get past the income limits that the IRS sets. This method involves converting a traditional IRA into a Roth IRA, and allows you to still deposit your $6,000 once a year for 2022, and $6,500 a year in 2023.Aug 19, 2022