Dear Forum reader: I have a question about backdoor IRA. Can I roll money from a former employer's 401k into the traditional IRA at Vanguard after January 1, provided that the traditional IRA has $0 to start with, and then convert these rolled over money in the traditional IRA for a Back door IRA to the ROTH IRA at vanguard?
I know traditionally backdoor IRA is to fund a traditional IRA and then convert them to ROTH IRA. I want to do ROTH conversion for my regular 401(k), and was wondering if I can do it this way?
Thank you and really appreciate any comments!
I know traditionally backdoor IRA is to fund a traditional IRA and then convert them to ROTH IRA. I want to do ROTH conversion for my regular 401(k), and was wondering if I can do it this way?
Thank you and really appreciate any comments!
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