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Backdoor Roth after Roth conversion of old IRA, in same year

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  • Backdoor Roth after Roth conversion of old IRA, in same year

    I have not done the routine $6K backdoor Roth so far.

    But this year in November I converted my IRA from an old 401K to Roth at Vanguard. I have also converted a small traditional IRA of my spouse to Roth at the same time. I will pay the taxes and let it grow. I don't need that money anytime soon.

    We have not made any IRA contribution this year. Can we put $6K each in December after that old conversion and do a backdoor on tjat $6+6K. I am not sure how backdoor Roths will hold up in the future with all that talk of it limited to <$400K income ( does that include gross income with all the passive income too?. If so, I will be over that limit). Maybe get the last hurrah before the door slams shut.

  • #2
    Yes, you can do a backdoor Roth this year. You may not be able to do it next year (as you already know), so do it now! You want everything to be completed by 12/31/2021 just to be safe.

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