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Expecting income below $100k this year, my wife and I (married filing jointly) thought we'd take advantage of the low stock market and convert my SEP IRA to a Roth IRA.

But, at the end of they year, we've received some unexpected additional income (through my S-corp). This is pushing our income above $100k for the year.

So, how exactly is MAGI for Roth Conversion purposes calculated?

Will losses from a real-estate company, LLC, be subtracted from my real income? Some of those losses at least?

Is all money made by my S-corp included? Or just money paid to me as wages?

I'd like to figure out how close I am going to be.

Thanks for all your help.

- Paul
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