Converting your IRA to Roth IRA
Yes, you might be able to create a Roth individual retirement account (IRA) if you’re over the income limit. This strategy involves converting
a traditional IRA to a Roth IRA. The idea, often referred to as a “backdoor Roth conversion,” is sometimes used by individuals whose incomes exceed the current limits for direct Roth IRA contributions.
There are pros and cons associated with a backdoor Roth conversion, including tax consequences. Keep in mind that this email is just a highlevel overview that should be used for informational purposes only. Tax, legal, and accounting professionals can provide more detailed
insights about the tax implications of this strategy
