Up through 2016 I have been funding a Roth IRA, but in 2017 my income exceeded the limits for contribution. Normally I would use a backdoor Roth contribution, but I have an employer-funded SEP IRA that would be impact the pro-rata calculation. I feel like me hands are a bit tied.
I already contributed to my Roth for 2017 before I realized I was over the income limit, so this has been recharacterized to a traditional IRA. Is there any real benefit to making nondeductible traditional IRA contributions? Should I not contribute anything for 2018?
