In 2022, I totally contributed to a backdoor IRA, and I’ve performed the identical this yr. My spouse hasn’t, however she plans to this month.
I seen that after I make deposits to the normal account earlier than transferring it over to a Roth, it nonetheless offers me the flexibility to deposit utilizing the 2022 or 2023 limits.
It seems to be like we nonetheless have a while earlier than the tax deadline to contribute to her 2022. Is there any motive not to try this as quickly as attainable after which contribute for 2023 as effectively? I hadn’t realized this was attainable, and I’ve been kicking myself for not serving to her get the 2022 backdoor performed final yr. It could be nice to contribute for each 2022 and 2023 now.
Is that attainable? Are there any points with doing so?
Thanks!
