- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
Sorry for the confusion. I thought traditional IRA and Roth IRA have the same income limit. Because the traditional IRA contribution was made nondeductable and because both traditional IRA and Roth IRA have basis carryover, I thought the 2016 MAGI for both purposes were above the limit. After doing some researches, I realized that traditional IRA and Roth IRA have different income limits. The Roth IRA limit in 2016 was $117,000 to $132,000. My MAGI was below this range. Is everything ok now? Thanks again for your help dmertz!
‎June 3, 2019
12:53 PM