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re: Roth Income Limits and Backdoor
Posted on 2/10/24 at 7:36 am to slackster
Posted on 2/10/24 at 7:36 am to slackster
I have a traditional rollover IRA so looks like backdoor is off the table for me and my current 401k investment options suck so I’d prefer to keep my IRA.
My wife doesn’t have a traditional IRA. She could do a backdoor Roth in her name and that would not trigger pro rata tax, right?
My wife doesn’t have a traditional IRA. She could do a backdoor Roth in her name and that would not trigger pro rata tax, right?
1
Posted on 2/12/24 at 8:19 am to sapo504
quote:
My wife doesn’t have a traditional IRA. She could do a backdoor Roth in her name and that would not trigger pro rata tax, right?
Correct.
And look, the pro-rata rule can still be worth it in the long run. If you’ve got a $20,000 IRA and you’re in your 30s, 20+ years of backdoor Roths would make the pro-rata rule worth it. Would probably be worth it just to convert it all and be clean in future years.
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