I think I'll be over the income limit to contribute to a ROTH IRA this tax year.
I have some money from years ago in both a SIMPLE IRA and a Trad IRA. If I move those to a 401k this tax year, can I still do backdoor ROTH this tax year?
I prefer ROTH because the contributions can be withdrawn penalty free. It feels safer in case of emergency situations. But if backdoor is not an option this year I could just pay off debt, I guess. All our debt except for student loans is low-interest.
Backdoor ROTH IRA with money in Trad IRA
byu/genreprank intax
Posted by genreprank