Hello all, I am married filing jointly and our income exceeded $150,000. I am intending on maxing out my Solo 401k, my wife doesn't have a 401k at work now, and we both maxed out our IRAs last year. I am now realizing that because I have a solo 401k the tax benefit in putting money in the IRA may be lessened. Should I roll over my IRA into my solo 401k, leaving only the $7000 I contributed last year, and then convert my IRA to roth? And going forward, should I put money directly into the roth IRA? Or how should I do this?
Sorry I'm fairly new at this and need help. Appreciate y'all. Thanks!