i am in the same boat, still have rollover IRA from bfore, but still able to contribue to META megabackdoor contributions for last 2 years without any tax penalty, . am i doing something wrong or do i need to rollover from earlier IRA to meta 401K?
i am in the same boat, still have rollover IRA from bfore, but still able to contribue to META megabackdoor contributions for last 2 years without any tax penalty, . am i doing something wrong or do i need to rollover from earlier IRA to meta 401K?
You are good! The meta after tax 401k (mega back door) is distinct from the back door Roth IRA. No issues with the pro rata rule when specifically dealing with mega back door.
Thanks so even if I have $$ in my previous traditional IRA , I can still max out meta 401k mega back door Roth contributions without rollover the IRA ? But I thought your recommendation was to rollover the IRA before begin META mega backdoor contributions , am I missing something ?
The need to roll a rollover Ira into your workplace 401k only applies off you want to do the back door Roth for $7k. It isnтАЩt related to the after tax 401k within the meta plan.
i am in the same boat, still have rollover IRA from bfore, but still able to contribue to META megabackdoor contributions for last 2 years without any tax penalty, . am i doing something wrong or do i need to rollover from earlier IRA to meta 401K?
You are good! The meta after tax 401k (mega back door) is distinct from the back door Roth IRA. No issues with the pro rata rule when specifically dealing with mega back door.
Thanks so even if I have $$ in my previous traditional IRA , I can still max out meta 401k mega back door Roth contributions without rollover the IRA ? But I thought your recommendation was to rollover the IRA before begin META mega backdoor contributions , am I missing something ?
The need to roll a rollover Ira into your workplace 401k only applies off you want to do the back door Roth for $7k. It isnтАЩt related to the after tax 401k within the meta plan.