First, the instructions above are very clear and the guidance provided in the comments section helpful as well. I didn’t learn about “backdoor” IRAs until this calendar year (2022) but for the tax year 2021. Through Vanguard I was able to easily and successfully convert $6,000 from tr...
A married couple can potentially claim up to $600 in FTC per year. This can offsetan additional $6,000 in Roth IRA conversion, the process of moving funds from a Traditional IRA to a Roth. That’s a nice 25% boost over the Standard Deduction. The Real Pro So at this point you migh...