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Retirement tax questions
Apologies if it was unclear, but that really wasn't the question. I understand I can't make IRA/Roth contributions unless my foreign income exceeds the FEIE cap, in which case I would have what's considered taxable/earned income. However, because I have earned US income for the tax year, I'm under the impression that I'm allowed to make a contribution for this year.
The question is whether I can convert money already contributed to an IRA into a Roth, thereby recognizing that money as 'income' to reduce the tax refund I'm anticipating given the taxes withheld on the bonus.
‎April 13, 2021
9:11 AM