Why Roth IRAs Are AttractiveLike traditional IRAs, earnings in Roth IRAs grow tax-deferred. The Income Limitation On Roth IRA ContributionsOne of the ways in which a Roth IRA can be funded is by making regular IRA contributions. The Two Steps To A Backdoor Roth IRA ContributionThe backdoor Roth IRA contribution is a strategy and not a product or a type of IRA contribution. Therefore, you shouldn’t ask your IRA custodian or trustee for a backdoor Roth IRA contribution. Step 2: Convert The Contribution To A Roth IRANotify your IRA Custodian/Trustee that you want to convert your traditional IRA contribution to a Roth IRA, and follow their instructions for doing so.

Source: Forbes January 20, 2019 21:29 UTC