Normally your eligibility to contribute to a Roth IRA is limited based on your income level. However, many higher income taxpayers take advantage of a method commonly called the “backdoor Roth” so that they can still take advantage of the benefits of a Roth account. This method involves making your original contribution to a traditional IRA, then converting the traditional IRA into a Roth account. It is recommended to make this conversion soon after the original contribution since you will have to pay tax on any earnings in the account from before the conversion.
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