I am allowed a $5000 Roth contribution. I want to take $2000 from my traditional IRA and convert it into an existing Roth IRA. Can I put in $5000 PLUS the $2000 conversion, or does the conversion limit my contribution to only 3000 additional dollars this year?

I guess I am asking WHY that is the law. I’m assuming lawmakers didn’t blindly choose $5,000 as the cap….

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