Whats to stop this two-step transaction? (1) Contribution to regular IRA (no income limit if after tax). (2) Convert that IRA to Roth (no income limit). The only thing I see is an extra piece of paperwork - an 8606.
Yes.
Of course if you had any traditional IRA accounts with deductible contributions, you recover those amounts pro rata in this conversion.
Also, try to have the time between steps 1 and 2 above be approximately
30 milliseconds, so you don't have to account for earnings.BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.