My wife and I have been doing backdoor Roth conversions since last year. We also took advantage of Robinhood ira matching last year.
Me:
2024 (for 2023 contribution): Contributed $6,500 to a Traditional IRA and then converted to Roth.
2024 (for 2024 contribution): Contributed $7,000 to a Traditional IRA and converted to Roth.
2025 (for 2025 contribution): Contributed $7,000 to a Traditional IRA and convert to Roth.
Wife:
2024 (for 2023 contribution): Contributed $6,500 to a Traditional IRA and converted to Roth.
2025 (for 2024 contribution): Contributed $7,000 to a Traditional IRA and convert to Roth.
My 2024 Form 1099-R show $13,905 while my wife one showed as $6695
In this situation, when it comes to filing jointly with my wife, however due to income limit, what should we do?
How should I file in order to avoid penalty in Turbotax?
Do I need to amend our tax for 2023?
How do we keep it much more easier for upcoming year?
Should my wife also contribute 2025 in year 2025?
