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re: ROTH Income Limits, Recharacterizing, Back Door
Posted on 4/20/15 at 2:40 pm to Teddy Ruxpin
Posted on 4/20/15 at 2:40 pm to Teddy Ruxpin
quote:
Last resort if required by unknown pitfall I could just keep the money aside until I'm sure one way or another so I can complete the backdoor ROTH in a less confusing manner.
I've experienced firsthand how difficult it is to estimate AGI when around the phaseout, especially when bonus(es) are part of the equation. Your last resort is now my preferred approach after being bitten twice. It isn't that difficult to recharacterize, but it is an exercise I would rather not have to put myself through - especially the tax part of it. This year, I waited until I prepared our taxes and squeezed out every dollar of Roth eligibility.
1
Posted on 4/20/15 at 2:44 pm to Dusty Bottoms
quote:
I've experienced firsthand how difficult it is to estimate AGI when around the phaseout, especially when bonus(es) are part of the equation. Your last resort is now my preferred approach after being bitten twice. It isn't that difficult to recharacterize, but it is an exercise I would rather not have to put myself through - especially the tax part of it. This year, I waited until I prepared our taxes and squeezed out every dollar of Roth eligibility.
Thanks for the input from experience. It is quite the annoying situation from appearances.
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