Question about Roth income limits

[bjl584]

I over contributed to my ROTH one year and my brokerage firm just transferred the overage from my ROTH to my taxable account. It was that simple. No complications or consequences. If you contribute and then find out later that you are not eligible, I'd assume that something similar might happen.

[LivingAlmostLarge]

It's easier to do it after the year ends and you see where your income ends up.

[feh]

Actually, that wouldn't be a problem for me. I already have a non-deductible traditional IRA from years ago. I no longer contribute to it but it would be very easy to start adding to it again. Everything in that account was non-deductible so if new money was as well, the record keeping wouldn't be an issue.

We've been over the limit the last 2 or 3 years, but I didn't know for sure until the year was over. For that reason, I've been waiting until the calendar year is over and have done taxes before contributing to a Roth.

I don't want to deal w/ the paperwork or record keeping of having a portion of our TIRA being post-tax.

Also, if I'm going to set aside money for retirement that is post-tax and not going into a Roth, I'd rather have it be in a taxable brokerage account.