Roth IRA Contribution

Forum|Forum|4 months ago
February 25, 2026
1 reply
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My husband is 55 years old. Turbo Tax is telling me that he has Roth excess contributions of $8,500.

What is his contribution limit if he is not opening any other IRA?

Ask the Experts - MetLife - Feb 2026

MinhT1

Level 15

It depends on the MAGI. For the calculation of the Modified AGI for Roth IRA purposes, please see Worksheet 2-1 contained on page 41 of this IRS publication.

Please see the MAGI limits in Table 2.1 Effect of Modified AGI on Roth IRA Contribution on page 42 of this IRS publication.

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user17715334666Author

Level 2

Thanks. Yes the MAGI is over the limit.

Can he convert some of the IRAs from past years to Roth IRAs or is this also limited by MAGI?

RogerD1

Level 6

No, converting traditional IRA funds to Roth IRA funds is not income limited. However, you need to be really cautious with these conversions because the converted amount will be considered taxable income in the year of the conversion. If you try to convert too much at once, your income could get pushed into a higher tax bracket which will cause you to owe a significant amount of tax on the conversion.

Also, you will want to try to pay the tax on the conversion from your own savings or taxable brokerage accounts and not with the IRA funds, because using the IRA funds will generate an additional 10% penalty for withdrawing prior to age 59.5 years old. You will also want to pay an estimated tax to the IRS (and your state also, if they have an income tax) at the time of the conversion - this will help reduce or eliminate an underpayment penalty when you file your taxes for the conversion.

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