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Reply to "Please explain a Back Door Roth?"
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[quote=Anonymous][quote=Anonymous]Open a traditional IRA and fund it with post-tax dollars. Then, convert it to Roth. [/quote] be careful of tax consequences if you have a SEP or an IRA (rolled over from a 401K) or anything where you put in pre-tax dollars that is considered to be similar to a traditional IRA. You will be taxed at your current income rate. http://www.bankrate.com/finance/retirement/drawback-one-type-roth-conversion.aspx[/quote]
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