Ok so, I’ve decided to look into funding a Roth IRA.
I do not qualify for normal contributions into a Roth because of my income.
I’ve opened a traditional IRA, and have been funding it with after tax dollars.
I’m wondering what my next steps should be to not screw myself with taxes.
Do I open a Roth IRA with after tax dollars now, then roll into it later?
Do I open a Roth IRA using only the money rolled from the Traditional?
What is the best way to proceed?
Read the [backdoor Roth guide](https://www.whitecoatinvestor.com/backdoor-roth-ira-tutorial/).
> Do I open a Roth IRA with after tax dollars now, then roll into it later?
Since you can’t contribute to Roth IRA, how exactly do you open a Roth IRA with after tax dollars? You can’t, hence just open both traditional IRA and Roth IRA at the same provider, with zero dollars. Then contribute to traditional IRA, then convert the balance in traditional IRA to Roth IRA, while making sure you have no other IRAs in your name anywhere.