I really need to read the Bogleheads wiki more...
I am putting after tax dollars into a traditional IRA (just set it up this past January). Maxed the 2015 and am making regular direct deposits from my paycheck to max out 2016. There are no pre-tax dollars in this IRA.
According to BHW, this is a "non-deductible IRA"...which I had never heard of before today. If I'm understanding things correctly, I have set myself up to be taxed twice on these dollars. Ummmmm....
So, is this a big fat mistake, and if so, is there a remedy? Convert to Roth?
Ugh.