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Roth IRA Question

Posted on 10/29/14 at 11:52 am
Posted by nelatf
NELA
Member since Jan 2011
2296 posts
Posted on 10/29/14 at 11:52 am
If wife and I make $175,000 base salary, combined, may we still contribute to our roths? Here is the kicker, I may get a bonus between 10k and 17.5k a year. Some years it may be a little more....some years it could be much, much less.

Does incentive compensation need to be included in the total?
Posted by Venelar
The AP
Member since Oct 2010
1134 posts
Posted on 10/29/14 at 12:16 pm to
Irs section on it: LINK

Looks like you'd be able to, maybe a reduced amount with the bonus.

If the bonus puts you over you could look into the backdoor roth:
LINK

Maybe that'll help. Never looked at it closely myself.
Posted by LSUtigerME
Walker, LA
Member since Oct 2012
3796 posts
Posted on 10/29/14 at 12:22 pm to
It's AGI right?

Do you have no pretax deductions from that 178k+bonus?
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