Roth IRA Account Needed Prior to Conversion?
If a client is retired, no longer has earned income, and never previously opened a Roth IRA account, can he/she still open a Roth IRA account to do backdoor Roth conversions OR does a Roth account need to be previously opened with earned income to do so?
Permalink Submitted by Alan - IRA critic on Wed, 2023-08-30 18:01
A conversion can be made to a new Roth account. A prior regular Roth contribution is not required, nor is earned income.