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I converted $ from traditional IRA to Roth. This conversion put me over AGI limit for next stimulus (below before this conversion). Is there anything I can do to qualify?

 
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1 Reply
HelenC12
Expert Alumni

I converted $ from traditional IRA to Roth. This conversion put me over AGI limit for next stimulus (below before this conversion). Is there anything I can do to qualify?

No, the IRS has limits on income and it you go over the limit, you don't qualify. 

 

Per IRS: Generally, if you are a U.S. citizen or U.S. resident alien, you will receive an Economic Impact Payment of $1,200  ($2,400  for a joint return) if you (and your spouse if filing a joint return)  are not a dependent of another taxpayer and have a Social Security number valid for employment and your adjusted gross income (AGI) does not exceed:

  • $150,000  if married and filing a joint return
  • $112,500 if filing as  head of household or
  • $75,000  for eligible individuals using any other filing status
    Your payment will be reduced by 5% of  the amount by which your AGI exceeds the applicable threshold above.
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