Never heard of that. Good news for when I'm a n OT baller
Yep, it's tricky, and may not be the best option because if you already have a non-employer sponsored IRA, SEP-IRA, or SIMPLE IRA and you decide to convert a nondeductible IRA to a Roth, ALL of the IRA assets are subject to a heavy tax rate. There's a way to circumvent this risk:
HIDE OTHER IRAs. Rollover all the pre-tax money to an employer sponsored retirement plan: 401k, 403b or 457. Most employer-based plans accept incoming rollovers. Then convert non-deductible contributions to a ROTH.
Complete guide on this HERE
It's a lot of work, but worth it when you consider the value of having tax free growth and distributions in retirement.