Author Topic: Unsure if I will be eligible for Roth  (Read 1220 times)

retireatbirth

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Unsure if I will be eligible for Roth
« on: May 08, 2015, 07:51:56 PM »
My income is close to the MAGI limits for Roth so I'm unsure if I can contribute to a Roth. Should I just do backdoor Roth? I have money to invest now so I really don't want to wait until the end of the year to see where I stand. Is there any advantage to regular Roth contributions over the backdoor approach?

skyrefuge

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Re: Unsure if I will be eligible for Roth
« Reply #1 on: May 08, 2015, 08:16:54 PM »
One downside to the backdoor is that it's not tax-efficient if you have Traditional, deductible IRA assets. If you don't, it seems to me like going straight through the backdoor is reasonable. Otherwise, you can always withdraw the front-door contribution at tax time once you realize your MAGI was too high.