HI for the year 2022 me and my wife invested 6000 each into our roth IRA account in Jan . Looks like with the bonus and salary we will be making almost 260K if not more together which is way over roth IRA limit. What will be the suggestion to handle this issue. 1 Let it sit in the roth account which is already invested into index fund. 2 Sell those fund. 3 Your opinion. Thanks
qlikview226 · Apr 13, 2022 10:02 AM · 10,542 views
In your current tax/income situation, if you file the taxes with status "Married Filing Separately" AND an AGI falls below $144,000, then that account qualifies for roth-conribution allowed for 2021. (Contribution made after Tax Day is applied toward roth-limit for 2022.) If one has contributed to Roth without qualifying, then a 6% annual penalty of the excess-amount will be assessed. For more details, see this https://www.thebalance.com/wha... Does this help? Last edited: 13-Apr-22 12:17 PM
GeetMaiJawaafDiu? · Apr 13, 2022 11:36 AM
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