Navigating the Pro Rata Rule when Using a Backdoor Roth IRA
What is a Roth IRA? There are two ways that you can contribute to an IRA: post-tax and pre-tax. A Roth IRA allows you to pay taxes on your money now, invest that money, and never have to pay taxes on any of the gains from that investment. Therefore, your contributions are post-tax. Traditional IRAs …
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