Hi, I made too much and have a 403 at work and hence cannot contribute to IRA. however, I heard that I can contribute to IRA but not take the tax benefit ( have to submit some specific form to IRS)but soon after convert the IRA to Roth.It's true - to a point. You missed hearing a very important caveat. Do you have any other IRAs that have pre-tax money in them (traditional IRAs, rollover IRAs, etc.)? If so, when doing the conversion, the conversion will be taxed based on the % of IRA assets that are pre-tax. If you have pre-tax IRAs, the only way to convert 100% of the post-tax IRA contribution is to convert 100% of your IRAs to a Roth IRA.See IRS Pub 590 for details.AJ
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