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re: Backdoor Roth question
Posted on 12/24/19 at 6:42 pm to GeauxTigers777
Posted on 12/24/19 at 6:42 pm to GeauxTigers777
quote:
Can you explain the rationale for a high income earner to do this? Aren't you just locking in your money at a higher tax rate? Wouldn't it be unlikely your income at retirement would reach the same high tax rate?
Most high income earners that do the backdoor Roth are phased out of the traditional IRA deductions anyway.
So whats the point of contributing post tax dollars to get taxed again on the withdrawal and growth? At least this way you're only taxed on the initial contribution.
1
Posted on 12/24/19 at 10:46 pm to Puffoluffagus
quote:
Most high income earners that do the backdoor Roth are phased out of the traditional IRA deductions anyway.
So whats the point of contributing post tax dollars to get taxed again on the withdrawal and growth? At least this way you're only taxed on the initial contribution.
Hey i understood this.
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