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Message
re: Tax experts/IRA experts.
Posted on 1/31/24 at 3:04 pm to XenScott
Posted on 1/31/24 at 3:04 pm to XenScott
I don’t see how you could make a tax deductible contribution since your individual income is obviously at least $330,000 to have a $66,000 SEP contribution. May be able to backdoor a Roth though.
ETA- as pointed out below SEP balance would still count for pro-rata backdoor contributions rendering them pretty much useless. Completely forgot about it in my post.
ETA- as pointed out below SEP balance would still count for pro-rata backdoor contributions rendering them pretty much useless. Completely forgot about it in my post.
This post was edited on 1/31/24 at 8:43 pm
1
Posted on 1/31/24 at 6:49 pm to slackster
quote:
May be able to backdoor a Roth though.
Do sep-iras no longer count towards the pro rata rule?
I know that you k
now can do sep ira roth contributions.
But I thought if trying to do the non deductible trad ira contribution -> roth conversion that form 8606 still accounts for trad sep ira amounts therefore you get hit with the pro rata rule still.
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