Situation: Have done “clean” backdoor IRAs for a number of years. Really butchered it this year and learned my lesson to just do the backdoor if unsure about income. January 2024: Contribute $6.5K into Roth IRA for tax year 2023 February 2024: Realize MAGI is above the roth limit for 2023, withdrawal contribution + gains.…
I got married in the middle of the year and we switched to my health insurance family plan. I didn't take into account my wife's previous HSA contributions so I over-contributed to our family HSA by $497. I'd like to make this count towards the following year. I understand that there will be a 6% excess tax for leaving the…
Made a big mistake and contributed to the max limit for Roth IRA for 2023, 2024, and 2025. Found out I wasn’t supposed to after speaking with a friend. I didn’t know that you need to earn income to contribute. I know…it was dumb and I should’ve done my research before listening to someone else’s advice. :\ I am not working…
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