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What Should I Do If My Income Exceeds the MAGI Limit After Contributing to a Roth IRA?
What Should I Do If My Income Exceeds the MAGI Limit After Contributing to a Roth IRA? Hi everyone, I recently found out that my Modified Adjusted Gross Income (MAGI) for 2024 will exceed the limit of $240,000 for married couples filing jointly. Unfortunately, I already contributed to a Roth IRA earlier this year. I'm looking for advice on what steps I need to take to rectify this situation and avoid any penalties. Here are some s...
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