"Assessing Whether the Backdoor Roth IRA is a Suitable Strategy for You - Exploring the Your Money, Your Wealth® Podcast Episode 314"
On Your Money, Your Wealth® podcast #314 with Joe Anderson, CFP® and Big Al Clopine, CPA: Are you eligible to make a backdoor Roth IRA conversion? Is it allowed? Is it taxed? How does a Roth 401(k) different from a Roth IRA? Can you buy a family member’s condo for below market value then rent it back to them? Can you max out a family member's Roth each year? Can you file 2020 taxes even though you haven't received IRS form 1098 yet? How can you diversify your portfolio into more international investments? How do capital gains "ride on top" of ordinary income again? And finally, a correction regarding Social Security deeming rules. Access the transcript and financial resources, ask your money questions: 00:00 - Intro 01:00 - Can I Do a Backdoor Roth Conversion? (Nick, Huntington Beach, CA) 09:11 - Is a Backdoor Roth Conversion Taxed? (René) 12:56 - We Make too Much to Contribute to Roth. Are Backdoor and Mega Backdoor Roth Strategies Allowed? (Jane, Michiga