Announcement

Collapse
No announcement yet.

megabackdoor roth and backdoor roth in the same year?

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • megabackdoor roth and backdoor roth in the same year?

    Is there any concern for doing a megabackdoor roth and a backdoor roth in the same year? My 401k allows for source-based rollover so I guess I am one of the rare/lucky ones. My CPA was not sure I would be able to do a backdoor roth in the same year but I suspect I can -- one is a rollover without limitation, the other is restricted to the $5500 limit.

     

    Any one else have thoughts on this?

  • #2




    Is there any concern for doing a megabackdoor roth and a backdoor roth in the same year? My 401k allows for source-based rollover so I guess I am one of the rare/lucky ones. My CPA was not sure I would be able to do a backdoor roth in the same year but I suspect I can — one is a rollover without limitation, the other is restricted to the $5500 limit.

     

    Any one else have thoughts on this?
    Click to expand...


    Indeed, you are one of the lucky ones. No problem with doing so. The "mega" Roth is a rollover and the back-door is a conversion, just to be accurate on terminology.
    Working to protect good doctors from bad advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

    Comment

    Working...
    X