Back door Roth

Hello sctrim!

Our Pro Support agents mostly answer questions and review returns on a live chat or phone call. However, it is possible to message them from within your account as an email. Regardless of how you contact them, they will be able to assist you. We recommend you choose what works best for you.

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FreeTaxUSA® Best Tax Software - Deluxe Online Tax Program

Hello sctrim!

At FreeTaxUSA, we have many resources available to help you with your situation. You can contact us through our Customer Support services from in your account, and you can even upgrade for additional services as well.

One such upgrade is Deluxe support. Deluxe allows you to have priority support (your questions jump to the front of the line!), live chat, and unlimited amended returns. This costs $7.99 and can be purchased here:

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https://community.freetaxusa.com/discussion/comment/2927#Comment_2927

I might be mistaken, but I have upgraded every year. Last year, iirc…to the pro support edition. 🤷‍♂️

https://community.freetaxusa.com/discussion/comment/2927#Comment_2927

Seeing that you have access to my 2021-2023 returns, would it be most efficient for one of your experts to review them(IRS form 8606), at their leisure? That would save a lot of back n forth via online chat.

I have IRA trandition account in Etrade with pre-tax money.

Can I do backdoor Roth by creating new ROTH and IRA account with Vangard?

Hello sctrim!

Are you trying to say….you have a 'Traditional IRA', and would like to convert it to a Roth?

If yes, you HAVE to call Vanguard and ask them. They will tell you exactly what you are allowed to do in this situation. Also….Back door Roths are an investment solution(loophole) for people that far exceed the income levels for a normal Roth IRA contribution.

https://community.freetaxusa.com/discussion/comment/2961#Comment_2961

Hello ajay_anand!

Vanguard would probably have more information on that. If they don't do allow a Backdoor Roth, they can most likely help you find where you can.

Their customer service page is here:

https://corporate.vanguard.com/content/corporatesite/us/en/corp/contact-us.html

https://community.freetaxusa.com/discussion/comment/2992#Comment_2992

Vanguard allows. Only question here is - can I keep 2 traditionalIRA traditional accounts - one for pre-tax money and other for backdoor ROTH transaction(post-tax money)?

https://community.freetaxusa.com/discussion/comment/3032#Comment_3032

Hello ajay_anand!

There is no limit to how many IRAs you can have. Just keep in mind that even if you have multiple IRA accounts, your overall contribution limit is still $7,000 ($8,000 age 50 or older).

Thanks IanS. I asked this because I heard, for Backdoor Roth contribution which is post-tax, there should not be pre-tax money in any IRA account. Is this true?

https://community.freetaxusa.com/discussion/comment/3032#Comment_3032

You HAVE to call Vanguard. They want you to call and answer your questions. Otherwise, you will be wondering what the correct answers are until the end of time.

https://community.freetaxusa.com/discussion/comment/3066#Comment_3066

From the Vanguard website……

https://investor.vanguard.com/investor-resources-education/article/how-to-set-up-backdoor-ira