What is a Backdoor Roth IRA & How to Actually Open One

You may have heard about a back door Roth IRA, especially if you make too much money to contribute directly into one right now. While a back door Roth and a regular Roth IRA utilize the same account, performing the contribution to get around the income limits has very specific steps that you need to get right in order to avoid unnecessary taxation and issues with the IRS.

This podcast episode goes over what a makes a back door Roth different than a regular IRA contribution, along with the exact steps you need to take to successfully perform the strategy. You'll also understand what account aggregation is and how those rules could cause unanticipated tax consequences, along with potential solutions to avoid taxes when doing a back door Roth contribution.




Disclaimer: This podcast is for informational purposes only; every individual's situation varies and could impact the outcome so this should not be exclusively relied upon for tax, legal or investing advice.
Please confirm the use of this information with your own paid professionals as Kelley C Long and Kelley C Long Consulting LLC expressly disclaims any and all liability that may arise from listeners' use of this information for their own tax and financial planning.