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You can get around this by contributing to a traditional IRA and then converting it to a Roth. This is easy to do (until law changes) unless you have an existin
by rpais 10y ago
You can get around this by contributing to a traditional IRA and then converting it to a Roth. This is easy to do (until law changes) unless you have an existing traditional IRA where you can take a tax hit.
- h4nkoslo 10y ago... And you can roll your trad IRA into your company 401K before doing the backdoor Roth, thus avoiding the tax hit.
- djrogers 10y agoNo - no you can't. Someone has given you some odd and confusing advice.
- h4nkoslo 10y agoI have personally done so. https://www.nerdwallet.com/blog/investing/rollover-ira-to-401k/ https://www.nerdwallet.com/blog/investing/rollover-ira-to-40... http://www.kiplinger.com/article/retirement/T047-C000-S004-moving-ira-assets-into-a-401k.html http://www.kiplinger.com/article/retirement/T047-C000-S004-m...