Can I do the backdoor Roth IRA if my income is going to be above the limit? I don't know what my bonus will be this year, so in thinking I should just do the backdoor so I can contribute the money now. Thoughts?

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Yes you can always do backdoor Roth IRA. If you have a traditional IRA balance, you may have some tax


It doesn’t matter. If you make 30k for example, you will get a deduction for your traditional IRA contribution and be taxed on the conversion. Ends up the same as no deduction and no tax.

That’s what it’s intended for. Even if you don’t hit the income cap.


Sorry I meant if I'm below the income cap! Thanks!

Yes you can it might not be advantageous if you can still contribute to traditional IRA. When I was close to the phase out limit I did backdoor Ira I didn’t want to deal with recharacterization if my bonus at the end of the year kicked me out of the income limit

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