Can I Do a Backdoor Roth IRA Contribution?

Yes — high-income earners who are over the Roth IRA income limits can still contribute indirectly through the "backdoor Roth" strategy. You make a non-deductible contribution to a traditional IRA (there are no income limits for this) and then immediately convert it to a Roth IRA. Since you already paid tax on the contribution, there's generally no additional tax on the conversion — unless you have other pre-tax IRA money, in which case the pro-rata rule applies and can complicate the calculation. The IRS has not prohibited this strategy. For married couples, both spouses can each do a backdoor Roth for a combined $14,000 per year (2024).