Adjusted Gross Income Roth
Question: I am over the limit to contribute to a Roth IRA. How do I fix it?
I just realized that my modified adjusted gross income in both 2005 and 2006 was too high for me to contribute to a Roth IRA. Is there anyway to fix it? What do I owe the IRS?
Answer: Can still pull out 2006 if do it by 4/17 so tight. Penalty is owed if don’t. Can move to regular IRA though can’t deduct if have pension plan.
Turn your nest egg into a Roth?
For people thinking about converting their traditional IRAs, there are both pluses and minuses to consider
