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  • My understanding is that the $6000 limit is for a Roth IRA, but a backdoor or mega-backdoor Roth conversion, the limits are much higher, correct? Commented Dec 4, 2019 at 20:20
  • @Sam The $6000 per year limit is for a traditional IRA for a person under 50. If that contribution is immediately converted to a Roth IRA, it's called a "backdoor" only because of the way the funds traveled. For a Roth IRA conversion of funds already in an IRA, there is no statutory limit; it's limited only by the amount you can afford to pay in taxes that result from the distribution from the IRA. Commented Dec 4, 2019 at 21:23
  • In decades this person's tax rate will be 75% Commented Dec 5, 2019 at 18:45
  • This works is the OP currently doesn't have any tax-deferred savings in a traditional IRA (+1). But if the OP does have traditional IRA savings, the pro-rata rule could make the backdoor IRA a bad idea (or at least cause a major tax bill, which is the thing we're trying to avoid here) Commented Dec 8, 2019 at 23:06
  • @Daniel Yes, important to remember the pro rata rule, but in the OP's case, I presume that the entirety of the current-year IRA contribution is nondeductible (made with post-tax dollars) so the pro rata rule should not come into play. No matter what portion of the existing IRA was deductible and not taxed yet, the tax on the $6000 back door conversion amount has already been withheld from wages. Commented Dec 9, 2019 at 0:22