donle0230 or anyone, can you explain to me where the money is coming from to fund the "Backdoor Roth IRA"? Is it a traditional IRA, and do you pay tax on that conversion?
My ultimate question is why do a backdoor instead of a regular frontdoor IRA? I think the backdoor is really for rich people who are subject to income phase-outs and can't do a normal Roth IRA?
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Posted by: elstaub@yahoo.com
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