Personal Investments • Boackdoor roth IRA , am i subject to pro-rata rule ?

thanks, i can probably move my SEP assets to my solo 401k and my wifes rollover IRA to her profit sharing plan . then do the backdoor roth to avoid taxes ?

As pointed out above you won't avoid taxes, but you will be able to make Roth contributions (in a round-about way) that you otherwise wouldn't be able to, because of your income.

You'll still end up paying taxes on the money that you contribute though, that's the nature of Roth contributions/conversions whether made through the "backdoor" or not.

Statistics: Posted by MP123 — Wed Jul 24, 2024 1:38 pm — Replies 7 — Views 230

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