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Roth IRA Backdoor – confirming this won’t be a taxable event?
Roth IRA Backdoor - confirming this won't be a taxable event? I make over the limit and would like to do Roth IRA. Is my understanding correct in that I can contribute my own money (after tax) into a traditional IRA -> convert it to Roth IRA and this won't be a taxable event since I am also not deducting (due to being over the limitation). And then I would just file IRS Form 8606 with the amount I contribu...
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