Permalink Submitted by Alan Spross on Thu, 2008-03-06 23:11
There were originally no income limits intended, however there was an inadvertant glitch in one of the recent tax acts that technically triggers the MAGI income limit. This is without controversy and is to be corrected by a Technical Corrections Act, and the provision has already been written up, but not yet passed. There is probably not much risk in proceeding with the transfer if it is inconvenient to wait for the correcting legislation which should be retroactive.
Permalink Submitted by Alan Spross on Thu, 2008-03-06 23:11
There were originally no income limits intended, however there was an inadvertant glitch in one of the recent tax acts that technically triggers the MAGI income limit. This is without controversy and is to be corrected by a Technical Corrections Act, and the provision has already been written up, but not yet passed. There is probably not much risk in proceeding with the transfer if it is inconvenient to wait for the correcting legislation which should be retroactive.