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Level 2
April 4, 2022
Question

roth contribution

  • April 4, 2022
  • 1 reply
  • 1 view

Disregard

    1 reply

    Level 15
    April 4, 2022

    You will need to calculate it. You start with your adjusted gross income, then subtract any ROTH IRA conversions, Roth IRA Rollovers, and any Minimum Required Distributions.

     

    Next, add back the following deductions or exclusions:

     

     - Traditional IRA deduction

    - Student loan interest deduction

    - Tuition and fees deduction

    - Domestic production activities deduction

    - Foreign earned income exclusion

    - Foreign housing exclusion or deduction

    - exclusion of qualified bond interest shown on form 8815

    - exclusion of employer paid adoption benefits shown on form 8839 

     

    Here is an article you may find helpful:

     

    MAGI for ROTH IRA contribution

     

     

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    Level 15
    April 5, 2022

    Subtract Minimum Required Distributions?  No.