can you make a contribution to a rollover ira
You can do a backdoor Roth IRA in one of two ways. Either you can contribute money to an existing IRA, sell shares and then roll over the money to Roth IRA account. Or, you can convert an entire Traditional IRA account to a Roth IRA account. Your bank or brokerage should be able to help you with the mechanics. Your Traditional IRA doesnât have to be new. you can roll over existing Traditional IRA money, or an old Traditional IRA account into a Roth.