The Mega Backdoor Roth: A Step-by-Step Guide

One of the most interesting quirks of the US tax code:

If you earn over $150,000 single, or $236,000 as a married couple, you cannot directly contribute to a Roth IRA.

But, you can use the “Mega Backdoor Roth” to fund your Roth IRA with up to $70,000 every single year!

I brought in my CPA friend Bogdan from The Crunch to write this article to break down:

• What the Mega Backdoor Roth is

• Who can qualify to use this loophole

• A step-by-step process to take advantage of this

• How to report this correctly in your tax forms

Over to him!