Amarin Corp Plc (AMRN)

[Crikker]

The best trick I’ve seen for a backdoor conversion is actually for a Roth. If your 401k allows for in service withdrawals you can fund your account with the maximum of deductible contributions (I think $25k this year for people 50+) and then fund with additional after tax contributions which if allowed under the plan can be rolled into a Roth immediately. I did this last year and put the max in my 401k as a deductible contribution and then put $18k in after tax and rolled it into my Roth.

Make sure you don’t leave any after tax in your 401k or you’ll have to fill out IRS forms when you do withdrawals in the future detailing the taxable amount of the withdrawal and the tax free amount (I believe it is form 8606).