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The backdoor Roth IRA is a strategy used by high earners for converting a traditional IRA to a Roth IRA. Using this strategy, you can contribute to an IRA and roll it...
A backdoor Roth IRA isn't a different kind of IRA. It's a "backdoor" way of moving money into a Roth IRA, which is accomplished by making nondeductible contributions—or contributions on which you do not take a tax deduction—to a traditional IRA and then converting those funds into a Roth IRA.
A backdoor Roth IRA is a conversion strategy that allows high earners to open a Roth IRA despite IRS-imposed income limits. Completing the backdoor Roth IRA...
"Backdoor Roth IRA" is simply a term to describe a strategy used by high-income earners who can't contribute to a Roth IRA because their income is above certain limits. Rather than contribute directly to a Roth, you contribute to a traditional IRA, and then convert it to a Roth.
What Is a Backdoor Roth IRA? A backdoor Roth IRA isn’t a special type of account. Rather, it’s a strategy that helps you move money into a Roth IRA even though your annual income would...
A backdoor Roth can be created by first contributing to a traditional IRA and then immediately converting it to a Roth IRA to avoid paying taxes on any earnings or having earnings that...
A backdoor Roth IRA is a retirement savings strategy whereby you make a contribution to a traditional IRA, which anyone is allowed to do, and then immediately convert the account to a Roth...
If your income is too high for a Roth IRA, there's another way in—but it comes with some caveats. Learn more about the backdoor Roth and the tax implications of using one.
The backdoor contribution for a Roth IRA is a two-step process: Contribute to your traditional IRA. Convert it to your Roth IRA. Other rules must be employed to get the intended...
What Is a Backdoor Roth IRA? A Backdoor Roth IRA helps high-income earners get money into a Roth IRA. With this set-up, they contribute money that has already been taxed to a regular IRA and then convert it into a Roth IRA.