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Two backdoor roth conversions in one year?

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  • Two backdoor roth conversions in one year?

    In a situation where I contribute my 2020 trad IRA at the end of December and plan to convert to roth in the 2021 year (due to pro rata issues) and convert that at the beginning of January to Roth, can I contribute my 2021 trad IRA limit later in 2021 and also convert that to roth in the same year? Or can you only do the conversion/roth rollover once per year?

  • #2
    You can convert as many times as you want. You just can’t contribute over $6k/yr (or $7k/yr if age 50+. And, of course, that contribution has to be supported by earned income. I’d recommend you convert both years in 1 transaction at the BOY
    Our passion is protecting clients and others from predatory and ignorant advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

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