Your Banner Here

   [Show all top banners]

qlikview226
Replies to this thread:
GeetMaiJawaafDiu? 735 days ago

More by qlikview226
What people are reading
Subscribers
:: Subscribe
Back to: Kurakani General Refresh page to view new replies
 Roth IRA issue
[VIEWED 2811 TIMES]
SAVE! for ease of future access.
Posted on 04-13-22 10:02 AM     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

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
 
Posted on 04-13-22 11:36 AM     [Snapshot: 32]     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

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/what-to-do-if-you-contributed-too-much-to-your-roth-ira-3192888

Does this help?



Last edited: 13-Apr-22 12:17 PM
 

Please Log in! to be able to reply! If you don't have a login, please register here.

YOU CAN ALSO



IN ORDER TO POST!




Within last 7 days
Recommended Popular Threads Controvertial Threads
TPS Re-registration case still pending ..
अमेरिकामा बस्ने प्राय जस्तो नेपालीहरु सबै मध्यम बर्गीय अथवा माथि (higher than middle class)
ढ्याउ गर्दा दसैँको खसी गनाउच
जाडो, बा र म……
NOTE: The opinions here represent the opinions of the individual posters, and not of Sajha.com. It is not possible for sajha.com to monitor all the postings, since sajha.com merely seeks to provide a cyber location for discussing ideas and concerns related to Nepal and the Nepalis. Please send an email to admin@sajha.com using a valid email address if you want any posting to be considered for deletion. Your request will be handled on a one to one basis. Sajha.com is a service please don't abuse it. - Thanks.
Sajha.com Privacy Policy

Like us in Facebook!

↑ Back to Top
free counters