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Reply to "Max out TSP, but make too much for Roth IRAs. How else do we save for retirement?"
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[quote=Anonymous][quote=Anonymous]I would like to do a back door Roth IRA. I am a retired fed with a TSP account. I also have a traditional IRA that I took tax deductions on over the last 20 yrs...over 100k. I am working and have a 401k with my new employer that I am maxing out. I would like to do a backdoor Roth IRA but I would put $6k in Backdoor IRA but because I have 100k in my IRA i would have to pay taxes on about 95%. My question is can I roll my IRA into the TSP then do a backdoor Roth IRA without having to pay taxes on the rollover. Thanks... [/quote] I do not know the answer to you question, but I thought you should at least be aware of this recent change in tax rules regarding multiple roll overs in the same year. http://www.marketwatch.com/story/how-to-beat-new-ira-rollover-rules-2014-02-18[/quote]
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