Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev Thread | Prev | Next | Next Thread
Author: GardenStateFool Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121095  
Subject: Question about AGI Date: 2/4/2004 10:29 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
I'm trying to figure out my AGI - not what it is, TurboTax tells me that, but what goes into it.

DH and I both contribute to 401Ks through work and to ROTH IRAs. We don't have alimony or moving expenses, so as I understand it, my AGI is all the gross income I took in over the year, including interest and dividends and salary, MINUS what we contributed to our 401Ks.

My question is, do the ROTH contributions also get backed out of the AGI? Or not? Or is that only traditional IRAs?

I'm getting close to some ceilings regarding deductions and ROTH contributions, and I'm trying to make some changes so I can keep contributing and maximizing deductions. I'm not really willing to move or get divorced so we can pay alimony, so managing the 401K and other IRAs are the only options I know of. Are there others?

Thanks!

GSF
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev Thread | Prev | Next | Next Thread

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
Post of the Day:
Berkshire Hathaway

Is the Market Overvalued?
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