The Backdoor Roth IRA and the Mega Backdoor Roth survive in the Inflation Reduction Act of 2022. Ironically, the IRA bill doesn’t kill the Backdoor Roth IRA 😉
Here is a link to the bill text:
Here is my recent Twitter thread on where we stand as of now (July 27, 2022; subject to change):
This video, the show notes, and any comments are for educational purposes only. They do not constitute tax, legal, financial, and/or investment advice for any person. Consult with your own advisors regarding your own matters….(read more)
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Backdoor was never really under threat, otherwise the votes would not materialize. Glad I can keep coughing up the 6k every year!
Good news indeed. I held off doing after tax 401k contributions early in the year thinking MBR was going away. Glad I resumed few months ago after BBB got torpedoed.
SALT cap is BS, so is getting rid of backdoors. But I hold my breath for them to actually come up with something that doesn't hurt regular citizens.
I'm surprised, didn't expect this.
Yes! That is awesome