Thanks for the response, allow me to clarify. Both my wife and I each have a Roth IRA. Our MAGI this year will exceed the 203,000 threshold to allow direction contributions to our Roth IRAs. Before we realized this we had each contributed a few hundred dollars into our separate accounts earlier in the year. I am in the process now of requesting a refund of excess contribution for both our accounts. So for my understanding do I have the below correct? And it all must be done before December 31 of this year correct?
1) Request Excess Refunds for both our Roth IRA accounts
2) Rollover her "Rollover IRA" to her 401K; do I close this account specifically at that point or is it auto closed?
3) Open a new Traditional IRA for each of us, fund it with 6,000 each and immediately do the Roth IRA Conversion a day or two later? I presume I would convert this into our existing Roth IRA accounts?
