Roth 403(b) rollover and backdoor Roth IRA

[JiPo]

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I’ve been putting some money into Roth 403b during my fellowship year, and I plan on rolling this into my Roth IRA account when I finish fellowship.

With my half year of attending salary that I will make this year, I dont qualify for Roth IRA for 2022, so I plan on doing backdoor Roth IRA once I have some cash saved (little tight on cash at the moment).

My question is, does roth 403b rollover affect how much I can put via backdoor roth ira for year 2022?

Thanks everyone!

 

[2brads]

No. Technically nothing prevents you from doing a max IRA contribution, Roth or otherwise. However, you need to make sure any traditional IRA has been rolled over prior to doing the backdoor or you’ll be subjected to the pro rata rule. Also, don’t forget to file IRS form 8606 when you do your taxes.

 

[chessknt]

Rollovers don't count against contribution limits so you'll be fine.

 

[JiPo]

Thanks guys!

 

[abolt18]

I’ve been putting some money into Roth 403b during my fellowship year, and I plan on rolling this into my Roth IRA account when I finish fellowship.

With my half year of attending salary that I will make this year, I dont qualify for Roth IRA for 2022, so I plan on doing backdoor Roth IRA once I have some cash saved (little tight on cash at the moment).

My question is, does roth 403b rollover affect how much I can put via backdoor roth ira for year 2022?

Thanks everyone!

Just do the backdoor roth IRA contribution in one full go (all 6K at once) as it makes things way easier.

 

[GassYous]

Just do the backdoor roth IRA contribution in one full go (all 6K at once) as it makes things way easier.

Yeah do it at the beginning of the year at the top of the market like me and watch it shrink!

 

[abolt18]

Yeah do it at the beginning of the year at the top of the market like me and watch it shrink!

I did too. Whatever. It'll bounce back. The market always goes up over the long run!