If you make too much money to contribute to a deductible #IRA or even a #Roth IRA, this episode may be of interest to you as we explain what a back door Roth conversion is and how it works.
Let's start with the definition:
back door Roth conversion = contributing non-deductible money to a traditional IRA and then converting it into a Roth IRA; when you do this in the same year, as long as you meet certain criteria, that conversion will be tax-free; basically, a back door Roth conversion is a way to contribute money into an IRA when you could not have done so by any other method
Listen in to find out how this can work out practically.
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