Backdoor Roth at Vanguard: Step-by-step walkthrough with Form 8606
The video takes you step-by-step through the details of making a backdoor Roth IRA contribution using Vanguard. Follow me as I make every click, and explain what I am doing!
A backdoor Roth IRA is when you contribute non-deductible contributions to a traditional IRA, then convert it to a Roth IRA. This allows you to effectively bypass the income limit which would otherwise restrict you from making an annual IRA contribution.
07:08 Special Bonus at the end of the video: I explain how you will fill out tax form 8606 to reflect your backdoor roth contribution, which consists of a non-deductible traditional IRA contribution, plus a conversion from traditional to Roth.
I also have another video explaining the difference between the Backdoor Roth strategy, and another strategy called the mega backdoor Roth: https://youtu.be/D0UCqkrmclE
Видео Backdoor Roth at Vanguard: Step-by-step walkthrough with Form 8606 канала Will Peterson
A backdoor Roth IRA is when you contribute non-deductible contributions to a traditional IRA, then convert it to a Roth IRA. This allows you to effectively bypass the income limit which would otherwise restrict you from making an annual IRA contribution.
07:08 Special Bonus at the end of the video: I explain how you will fill out tax form 8606 to reflect your backdoor roth contribution, which consists of a non-deductible traditional IRA contribution, plus a conversion from traditional to Roth.
I also have another video explaining the difference between the Backdoor Roth strategy, and another strategy called the mega backdoor Roth: https://youtu.be/D0UCqkrmclE
Видео Backdoor Roth at Vanguard: Step-by-step walkthrough with Form 8606 канала Will Peterson
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