Related Posts
If I leave big law for ADA will I get canceled?
More Posts
Rajma is bae 😍

Happy New Year!

Pretty sure everyone knows I’m stoned rn
Bain or BCG? NY entry level
Additional Posts in Personal Investment Chatter
Marcus HYSA rate cut down to 2.0% :(
Thoughts on SoFi bank?
Anyone know about equitable advisors?
New to Fishbowl?
unlock all discussions on Fishbowl.






You can convert a traditional IRA to a ROTH and pay the one time tax on the FMV of the IRA. There’s also the back door ROTH which is contributing to a traditional IRA each year, receive no deduction (since over the income limit), and immediately convert to ROTH. FMV on date of conversion equals your basis (since no deduction) so no tax impact.
Enthusiast
He stuffed $2K worth of pre ipo PayPal shares at a wildly undervalued price of something like 1cent a share. For the rest of us you can just use the backdoor conversion to contribute to a Roth, no matter your income.
Just to add to the craziness, it was actually $0.001 per share
Pro
Backdoor roth.
But in thiels case, he opened that roth in 1999, before his reported income made him ineligible, so he didnt need to backdoor.
Pro
Anyone can contribute to a Traditional IRA and roll it over into a Roth.