The non-deductable tIRA topic has me confused and I could use some help while I full throttle on investing. I want to know if this is relevant for my situation. Quick summary:
- 48 YO, tax filing as single, no spouse/kids
- 160-200k/year income (including potential bonuses)
- No debt (no mortgage/car/student loans, CC paid off each month)
- On track to max out 401k
- No HSA available
- 165k in tIRA (current employer's 401k funds selection isn't all that great)
- Backdoor Roth would trigger pro rata rule, I believe, so that's out of the picture
- Just started a new taxable brokerage account with a few k in it
Can I still contribute after-tax dollars into my tIRA? Is there any benefit since I make too much for a tax deduction? Or would it just make sense to throw that 6k max into the taxable account?
Submitted July 10, 2020 at 08:47PM by lifehustlesince2000 https://ift.tt/3eiJ7dZ
