{ "media_type": "text", "post_content": "Can someone walk me through how to do a backdoor Roth. I have a traditional IRA with Vanguard and with the max contributed for this year. But I don’t have a Roth account. Can I still roll the $$ over? Is there any point to rolling it over now while I’m above the Roth contribution limit? Or should I wait until I leave this job for a lower paying gig sometime in the next few years? Also, I I am maxing out my 401k and cannot take a dedication on the contributions to my traditional IRA.", "post_id": "6027f595fe58aa002ea1c7cf", "reply_count": 10, "vote_count": 2, "bowl_id": "59064a3cb12379001006592c", "bowl_name": "Personal Investment Chatter" }

Can someone walk me through how to do a backdoor Roth. I have a traditional IRA with Vanguard and with the max contributed for this year. But I don’t have a Roth account. Can I still roll the $$ over? Is there any point to rolling it over now while I’m above the Roth contribution limit? Or should I wait until I leave this job for a lower paying gig sometime in the next few years? Also, I I am maxing out my 401k and cannot take a dedication on the contributions to my traditional IRA.

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I recently did this through vanguard. When you click the roll to roth ira it walks you through the process, it is straightforward.

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Also if you call Vanguard, they’ll walk you through the process. There’s also step by step instructions if you search for vanguard back door Roth on google.

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We’re you able to deduct any of traditional Ira? Do you have a balance in traditional Ira other than non deductible traditional amount?

^ Will add that even if you contribute to a Roth directly, you can recharacterize those contribution to a traditional IRA contribution and then convert them back to Roth. But I agree you should just contribute to the traditional directly and then convert.

smart

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