s0lwind
s0lwind OP t1_jecwfwq wrote
Reply to comment by Nagisan in What to do with Roth IRA contributions when salary increases mid year? by s0lwind
Just a follow up question. I have an active 10b5 plan (autosell stocks on vesting date), so there is a chance my MAGI would actually pass a limit at some point if stock price get high enough.
Would it make sense to keep my contributions to roth ira, and then just recharacterize if needed before next tax season due?
s0lwind OP t1_jecvdh5 wrote
Reply to comment by Nagisan in What to do with Roth IRA contributions when salary increases mid year? by s0lwind
Thank you for clarifying, didn’t realize that. Your example is pretty close to my numbers, so potentially I should still qualify. Just need to double check to be 100% sure. Appreciate your help.
s0lwind OP t1_jechzpy wrote
Reply to comment by Nagisan in What to do with Roth IRA contributions when salary increases mid year? by s0lwind
Got it thank you! It's putting me above 228,000 limit, so I guess recharacterization is the way.
s0lwind OP t1_jecxa33 wrote
Reply to comment by Pipeliner6341 in What to do with Roth IRA contributions when salary increases mid year? by s0lwind
Yeah, I already max out HSA and put 5% in 401k, but it’s a good call to try increasing contributions. Just need to run numbers to see if it’s not a big jump. Thanks!