1
vote
1answer
217 views

Need help with completing a backdoor Roth IRA conversion

I am in need of some advice regarding IRA's, IRS income limits, IRA conversions, etc. Here's the points pertinent to my situation: My wife and I got married this year and will be filing 2012 tax ...
2
votes
1answer
929 views

Do 401K contributions reduce MAGI as it pertains to Roth IRA income limits?

My wife and I are looking to make around 200K this year, putting us past the Roth IRA income limit. It may be possible for us to get under that limit if we both ratchet up our 401K contributions from ...
3
votes
2answers
94 views

Tax implications of re-characterizing a Traditional IRA to a Roth IRA after having taxes filed for the year it was contributed to

I filed my 2010 taxes in February of 2011. In the first week of April 2011, I opened a Traditional IRA account online with Fidelity and contributed the maximum allowable amount of $5000 for the year ...