I need advice...I opened a Roth IRA in my name a couple of weeks ago. Then I realized that my spouse had gotten a large stock option payout which put our combined income over the limit. We always file our taxes jointly. I was told to roll the Roth account over to a traditional IRA account, but I prefer not to do this, because we are over the income limit to be able to deduct the contribution anyway. Can I leave the Roth account open if our income is going to go over the limit? What are the consequences / penalties? Any help would be appreciated.
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