re: Backdoor Roth for 2020 Income

quote:

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IF you already have a traditional IRA with an decent amount in it, then the backdoor Roth isn't really a good option for you.

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This is the case for me. Too much in the traditional IRA to make it worthwhile, which is a good problem to have I suppose. Naturally my first thought was to open a new IRA account just for the conversion but that doesn’t work either as you have to combine all the IRAs as if it’s just one.