Tuesday, March 27, 2012
Comparing Roth and Traditional IRA's; how Social Security income can double up in taxes
Personal Fidelity offers a dynamic web page that helps consumers check their eligibility to start or add to both traditional and Roth IRA’s, and offers charts of comparison between traditional and Roth.
The basic link is here.
I’m suddenly finding myself in a situation of having to plow back $6000 into a Traditional. If you have K-1 “indirect income” from an estate, it can “double up” if it brings your Social Security income back up into the 85% taxable range.