Roth IRA contribution for 2018 – uh oh, not eligible
Hi,
I made a Roth IRA contribution for 2018 of $5,000. MAGI was > $210,000, so not eligible for a Roth.
The re-characterization was NOT done by 10/15/19.
What do I do now?
Thanks,
Curious Guy
Permalink Submitted by David Mertz on Thu, 2019-12-19 20:54
Permalink Submitted by Greg Syr on Sat, 2019-12-21 01:01
Thank you for the reply.
Permalink Submitted by David Mertz on Sat, 2019-12-21 11:48
Permalink Submitted by Greg Syr on Sat, 2019-12-21 14:15
Great info. Thanks so much. One point I am not clear on – you said “You are only permitted apply the $5,000 excess from 2018 as part of your 2019 Roth IRA contribution if you are presently eligible to make a $5,000 Roth IRA contribution for 2019.”
Thanks!!! P.S. How can I format my replies with breaks? This formatting is a mess.
Permalink Submitted by David Mertz on Sun, 2019-12-22 14:51