Roth Conversion/Contribution Question
If someone filing MFJ, with income of $125k and only taking the standard deduction, converts $300k from TIRA to Roth, does the additional income eliminate the ability to make a Roth contribution for that year?
If someone filing MFJ, with income of $125k and only taking the standard deduction, converts $300k from TIRA to Roth, does the additional income eliminate the ability to make a Roth contribution for that year?
Permalink Submitted by Alan - IRA critic on Fri, 2024-12-20 16:10
No. The converted amount is subtracted from AGI for purposes of determining the income limit for making a regular Roth contribution.