So I usually make between $130-$150k a year but got promoted mid-year last year and surpassed the income limit for 2025 Roth contributions. I put $7,000 into my Roth IRA in early 2025 when I thought I wouldn’t be above the mark.
How do I go about backdooring in this instance? Convert to Trad IRA and then put it back in my Roth?
I maxed out my 401k at $23,500 as well. Assuming I move it from my Roth to a read IRA, would I get dinged for exceeding the $23,500 retirement contributions since retirement contributions are pro-rata?