Roth contribution when filing separate but married
my client is married and ( filed Married but filed separately.)
Her adjusted gross income for 2020 was $88,783.00.
1. Can she fund her Roth IRA with the 7k (over 50) for 2021?
or
2. Does her husband’s tax return of adjusted gross income come into effect?
Thank you.
Douglas
Permalink Submitted by Alan - IRA critic on Fri, 2021-10-15 16:18
Husband’s tax return is not a factor, but when filing separately her Modified AGI must be under 10,000 to qualify for a Roth contribution. She could still convert a TIRA to a Roth IRA, but of course would owe taxes at the higher separate return rates.
Permalink Submitted by Douglas Bauerband on Fri, 2021-10-15 17:42
Just making sure it wasn’t a type O?but when filing separately her Modified AGI must be under 10,000 to qualify for a Roth contribution?Is that really 10k or should it be 100k?thank you.
Permalink Submitted by Alan - IRA critic on Fri, 2021-10-15 20:57
10k is correct, so low it eliminates almost all regular Roth contributions.