UnThreaded | Threaded | Whole Thread (5) | Ignore Thread Prev | Next
Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75340  
Subject: Re: Roth IRA & 100k AGI Date: 10/23/1997 5:19 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Greetings, Prebson, and welcome to Fooldom.

<<Unfortunately, truckbad, I don't have your answers, but
I would like to add an adjunct to your question:

What if my AGI in 1998 is below 100K but in 1999, 2000, or 2001 is *above* 100K. Does this matter, or is it only the 1998 (or year of the rollover) AGI that matters.
Also, what happens if my AGI *is* over 100K? Penalties, I imagine? Or death by IRS firing squad, perhaps?>>

All that matters is what the AGI is in the year the roll takes place. That will determine the eligibility. And as to penalties, like I said to Truckbad, we all will just have to wait and see what the IRS says on this matter. I doubt if they'll want more than your spouse and first-born, though. You get to keep the dog.

Regards.....Pixy

Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (5) | Ignore Thread Prev | Next

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
Post of the Day:
Value Hounds

Medallion Financial: TAXI!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement