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You can do a backdoor Roth IRA contribution. It has no limits.
by kingnothing 9y ago
You can do a backdoor Roth IRA contribution. It has no limits.
- ng12 9y agoThat's still only $5.5k/year though, right?
- nerfhammer 9y agoYou have to have contributed as much to a traditional IRA, which still has contribution limits.
- monster_group 9y agoThat is incorrect. Conversion from traditional to Roth IRA has no limit. Contribution limit is $5500 per year regardless backdoor or not.
- wsxiaoys 9y agoIt's a well-known trick across googlers.... 1. IRA Backdoor: Contributed to traditional ira with after tax money, capped at 5500, then converted to RothIRA 2. After-Tax 401k Mega Backdoor: Contributed to After-Tax 401k, capped at 26K, then converted to RothIRA.