I just opened traditional IRA account and a Roth IRA account, I am planning to put in 7000$ into traditional IRA and get the 3% bonus which is around 210$. Once the money settles I will transfer the money to Roth IRA(back door method), since the limits for Roth IRA in 2025 is 7000$, will I not be able to transfer the extra 210$? If I can transfer the entire 7210$ will I need to pay taxes on the 210$ using the pro rate rule. Are there any limits and other things to consider?
Robinhood 3% match back door Roth IRA transfer
byu/Ill-Soil8106 intax
Posted by Ill-Soil8106