"Mega Backdoor Roth IRA" - Who has tried it?

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The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > "Mega Backdoor Roth IRA" - Who has tried it?

Bastard Tetris: Apr 27, 2005; L-Shaped; Nap Ghost

I'm not really sure how "Mega Backdoor" this is, generally when you're in a position to put 40-50k/yr in a Roth you're above Roth income limits, then again I'm not sure if that counts for rollovers. I've used the backdoor conversion a few times, and it's a great way to funnel more money into Roth above contribution limits, I think I've got about 3x in Roth IRAs than I would have if I just did normal Roth contributions every year.

This also has the effect of kicking up your taxable income to ridiculous levels, so if you're not fairly tax-savvy you may want to consult a tax person.

Bastard Tetris fucked around with this message at 07:19 on Feb 17, 2016

# ¿ Feb 17, 2016 07:17

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# ¿ May 16, 2024 16:11

Bastard Tetris: Apr 27, 2005; L-Shaped; Nap Ghost

You're right- I was thinking of doing a conversion of a normal 401k to a Roth, which did trigger a taxable event.

# ¿ Feb 17, 2016 22:03

The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > "Mega Backdoor Roth IRA" - Who has tried it?