A bit of good news.
I "foolishly" contributed my $6500 contribution for 2014 to my ROTH IRA.. Thus not being able to reduce my AGI to lower ourselves back into the 15% tax bracket.. I did this on Monday
I just called Vanguard and screamed "Investor's remorse"!
No problem they did what is called a re-chararcterisation.. I.e yanked my $6500 from the Roth and stuck it in a new traditional IRA.
My wife will also open a trad IRA this evening,.. This will reduce out AGI by $12,000.
I think this will put us back in 15%...:)
Frank