DanielV01
Expert Alumni

Retirement tax questions

@EC101  You might find this link helpful to determine your MAGI for a Roth contribution:   Modified AGI.  This link will take you to a table the IRS provides.  You will note that it starts with your AGI, and then has certain add-backs for what would otherwise be "above-the-line" deductions for the tax return.  Excluded income (such as the sale of home exclusion) is not added back.  So it will not count towards your MAGI, as @macuser_22 points out.

 

One strategy you might be able to still use if you cannot make a direct Roth contribution is to make a back-door Roth contribution instead.  With a back door, you make a contribution to a Traditional (nondeductible) IRA and immediately convert it to a Roth.  Congress is looking into closing this loophole and disallowing the back-door Roth.  

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