I have a Traditional IRA with Vanguard that I opened a few years ago to consolidate 401Ks and Rollover IRAs from previous employers. I make too much to deduct contributions, but the past couple of years I put in the max amount $5500. But this was non-deductible. So now I have a mixed IRA which I am learning may be messy, tax-wise. So I'm wondering what I should do with it.
1. Rollover into a Roth using backdoor conversion (can I do this regardless of what my income is?)
2. Keep contributing the max amount (non-deductible) every year until I retire, then roll it over to a Roth when my taxable income is lower.
3. Stop contributing to it and contribute more to my taxable account instead. Leave it alone til I retire then convert it to Roth when I retire.
4. Don't ever convert it and just take distributions when I reach 59.5. This will be long after I retire.
5. Other options I didn't think of?
Much thanks