Mega Backdoor Roth Amount 2024

Mega Backdoor Roth Amount 2024. The mega backdoor roth allows individuals to roll over substantial amounts—up to $43,500 in 2023—from a traditional 401 (k) to a roth ira or roth 401. Depending on your filing status, the amount you can contribute begins to phase out before disappearing altogether.

While a backdoor roth ira allows you to contribute up to $7,000 (as of 2024) indirectly to a roth ira, a mega backdoor roth ira can enable you to contribute. Is the backdoor roth an illegal move?