Backdoor Roth Maximum 2024
Backdoor Roth Maximum 2024. Mega backdoor roth conversions are a lucrative tax strategy that allow for additional roth savings within your 401(k) with no upper limit on income. For 2023, you can contribute $6,500 yearly (or $7,500 if you are 50 or older) to a roth ira.
For 2024, the income limit for roth iras is $161,000 for single filers and $240,000 for married individuals filing jointly. A contribution using this backdoor roth ira strategy.