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If I roll over my rollover Ira to 401k, do I need to creat new ira for Backdoor?

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  • If I roll over my rollover Ira to 401k, do I need to creat new ira for Backdoor?

    I have about 30k rollover Ira with vanguard that was created in 2016. It’s 2017 and I just submitted request to roll over the vg rollover Ira to my 401k so I may do Backdoor Roth IRA.

    Should I create a new traditional Ira with vanguard for the $5500 or use previously created rollover Ira which will have $0?

  • #2
    You can use the same IRA. Just be sure to file the form 8606 for each year you make a nondeductible contribution.

    Explaining Backdoor Roth IRAs
    Working to protect good doctors from bad advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

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