Mega backdoor Roth conversionscan significantly boost tax-freeretirement savings— but this maneuver is not available for all investors and mistakes are common, experts say. When investors make too much to save directly to aRoth individual retirement account, backdoor strategies can bypass theIRS inco...
You can do the mega backdoor Roth in two ways — convert within the plan or withdraw to a Roth IRA. Converting within the plan is much easier, and many plans automate the process. Transferring to a Roth IRA also works. See the previous postMega Backdoor Roth: Convert Within Plan or Ou...
I’m in the same situation as Adam above — I am the plan administrator for my solo 401k, and I am completing my 1099-R this year for the Mega Backdoor Roth conversion I executed in early 2022. I contributed 22,261.00 after tax to the Solo 401k, but by the time it rolled into my...