ApDu
New Member

I opened a ROTH IRA this year and have been contributing monthly. Turns out hubby makes too much to invest in a ROTH. Can I convert to traditional IRA w/o tax fine?

I didn’t fully understand MAGI tax limits and now I’m fretting. I’ve double checked and husband makes too much to invest anything in a ROTH. whoops. I already have a traditional IRA that I had stopped investing in. So, I guess I’m looking to see if I can rollover the ROTH money to my current traditional IRA or if I need to start a new one. I don’t want to be penalized for making a mistake. TIA.