Backdoor Roth annual contribution question I opened an IRA…
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Backdoor Roth annual contribution question
I opened an IRA and completed the backdoor Roth conversion a few years ago. I read something today that's making me think I'm doing my annual $7500 contributions wrong. We do it as a lump sum every fall and I'm adding that amount directly into the Roth IRA account. Am I supposed to be putting it into the Traditional account and then transferring it over instead? The traditional IRA account is still open but just with a zero balance.
#business
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I opened an IRA and completed the backdoor Roth conversion a few years ago. I read something today that's making me think I'm doing my annual $7500 contributions wrong. We do it as a lump sum every fall and I'm adding that amount directly into the Roth IRA account. Am I supposed to be putting it into the Traditional account and then transferring it over instead? The traditional IRA account is still open but just with a zero balance.
#business
source
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