FocusedInfinity
Dryer sheet wannabe
- Joined
- Nov 12, 2010
- Messages
- 20
Between getting hitched this year and stumbling into some unexpected income, it's come to my attention that I'm not going to be under the IRS income limits to contribute directly to a Roth IRA. Anyone who has familiarity with this situation mind spot checking me? The brokerage is Fidelity just in case anyone has specific advice on how to do it on their website.
-All my retirement assets are in my Roth or 401k - no traditional IRA to trigger the tax implications there.
-I've contributed $1000 to the Roth IRA already this year. I left it in cash.
-I intend to withdraw say $1020 from the Roth IRA since I'm not exactly sure how much that $1000 earned.
-I intend to take that $1020, tack on an additional $3980, and contribute that to a Traditional IRA.
-I intend to roll the Traditional IRA over into the original Roth IRA.
Thanks in advance for any advice!
FI
-All my retirement assets are in my Roth or 401k - no traditional IRA to trigger the tax implications there.
-I've contributed $1000 to the Roth IRA already this year. I left it in cash.
-I intend to withdraw say $1020 from the Roth IRA since I'm not exactly sure how much that $1000 earned.
-I intend to take that $1020, tack on an additional $3980, and contribute that to a Traditional IRA.
-I intend to roll the Traditional IRA over into the original Roth IRA.
Thanks in advance for any advice!
FI