Hi all,
I have 4k invested in my Traditional IRA. I thought our MAGI would be under the income limit for deductibility for this year, however a larger than expected bonus and pay raise is going to put us completely over the deduction limit. If I had known this from the start, I would have contributed to a Roth IRA. Don't get me wrong, it's a great problem to have!
Do I have any options to "move" this contribution to a Roth IRA contribution? Or do I just suck it up, add the remainder to max to a Roth IRA and deal with my losses. Going forward next year I'll just contribute to a Roth.
Thanks!
P.S. Big thanks to MMM and this forum. The phrase "life-changing" gets kicked around a lot, but this time it actually is!