Confirm you are eligible to contribute to a traditional IRA
Check whether you have any existing pre-tax traditional IRA, SEP IRA, or SIMPLE IRA balances
Open a traditional IRA if you do not already have one
Open a Roth IRA if you do not already have one
Make a non-deductible contribution to the traditional IRA
Keep records of the contribution and any Form 8606 filing
Wait only as long as needed for the contribution to settle if your custodian requires it
Convert the traditional IRA balance to the Roth IRA
Choose to convert the full amount, including any small earnings if present
Pay any taxes due on pre-tax amounts or earnings converted
File Form 8606 for the tax year of the non-deductible contribution
Report the Roth conversion on your tax return
Avoid taking deductions for the non-deductible traditional IRA contribution
Be aware of the pro-rata rule if you have other pre-tax IRA balances
Consider rolling pre-tax IRA balances into an employer plan before doing the conversion if appropriate
Keep all IRA statements and tax forms for your records