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  • 1.  BACK DOOR ROTH IRA

    Platinum Most Valuable Member
    Posted 01-31-2023 06:37 PM
    An individual tax client asked if he can use this strategy for the 2022 tax year up until the due date 
    of his 2022 tax return.

    Similarly, since his employer 401k allows contributions to a Roth IRA, could he use the same strategy for the 2022
    tax year up until the due date of his 2022 personal tax return.

    Michael Jaffe

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    Michael Jaffe
    CPA
    MICHAEL B. JAFFE, CPA PC
    Commack NY
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  • 2.  RE: BACK DOOR ROTH IRA

    Platinum Most Valuable Member
    Posted 02-01-2023 03:35 PM
    Michael, my understanding is that he cannot use that strategy up through the filing date.  remember, the idea of the back door Roth IRA is that it's for those who are unable to contribute to an IRA that would be deductible on their taxes.  They do the immediate conversion to the Roth and complete Form 8606.  The contribution and subsequent rollover must occur in the same calendar year.

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    Stephen MankowskiCPA
    MANKOWSKI ASSOCIATES, CPA, LLC
    steve@mankowski.cpa
    215-682-7366
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    Original Message


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The opinions expressed are the views of the author alone and should not be attributed to any other individual or entity and shall not constitute an accounting opinion.