My wife contributes to a Roth IRA monthly. $125 each month ($1500 annually). My work is shutting down and I expect to get a significant severance payment when it closes ($220K before withholding). That will move us from $235K gross earnings to $456K. That exceeds the allowable for Roth IRA contribution. What do we do once we know when the severance will occur. Not sure if late this tax year or next year.
