Thread: Money Investing megathread extravaganza
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Old 03-09-2022, 08:21 PM   #12467
Buehler445 Buehler445 is offline
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Join Date: Apr 2007
Location: Scott City KS
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Quote:
Originally Posted by Jenson71 View Post
I just learned that if you file married separately, you can basically only contribute to a Roth IRA if you make less than $10k in earned income that year. You don't have the same limitation with contributions to a Trad IRA.

So if you insist on filing separately (as I do), you need to fill out a form that recharacterizes your Roth IRA contribution into a Trad IRA contribution for that year.
You at least get to deduct the Traditional IRA payments.

Why are you filing MFS? I’ve honestly never heard a good reason not to file MFJ
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