So I found out that this year with a promotion and increase of bonus that I'll be above the 139k limit for Roth TSP. However I didnt realize this until making a 500 a month contribution this year. So I am withdrawing my 2500 this year, I'm technically $40 negative on the distributions. My brokerage will be returning those contributions soon. I'm planning on taking that money and putting it in a traditional and then backdooring it. Is that allowed for a withdrawal? Or am I just out on contributing 2500 this year and limited to 3500?
Im doing this at the same time I'm ditching my broker. They have super high fees and I've been educating myself that Vanguard or Fidelity would be far cheaper.
Submitted June 07, 2020 at 08:05PM by raiyos https://ift.tt/2UhUhZd
