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Message
Backdoor Roth/Traditional IRA question
Posted on 5/8/23 at 1:22 pm
Posted on 5/8/23 at 1:22 pm
When I add money to Traditional IRA that I will back door to Roth, does that money count towards my 401K limit.
My 401K limit is 23K. Do I put 23K plus amount I want to move to Roth in Traditional IRA for the year?
Please forgive my ignorance
My 401K limit is 23K. Do I put 23K plus amount I want to move to Roth in Traditional IRA for the year?
Please forgive my ignorance
1
Posted on 5/8/23 at 1:28 pm to glorymanutdtiger
IRA =/= 401k.
Posted on 5/8/23 at 1:33 pm to tissle
Thank you. Schwab just explained it to me like an Idiot. 
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