Hey everyone,
I have been thinking about ways to lower my AGI for the sake of also lowering my student loan payments while in residency. My wife and I have funded our Roth for 2017, but I feel it might make more sense for us to withdrawal our contributions for this year and fund the Traditional IRA lowering our AGI by $11,000 and qualifying us for a heftier saver's credit, which would give us $4,000 back on tax day!
My question is: would it then be okay to rollover our Traditional IRA amount into our Roth IRA’s in 2018 after we have received our tax returns, but prior to April 15th? Is this kosher or tax fraud?
Thanks in advance for your time and reply!
I have been thinking about ways to lower my AGI for the sake of also lowering my student loan payments while in residency. My wife and I have funded our Roth for 2017, but I feel it might make more sense for us to withdrawal our contributions for this year and fund the Traditional IRA lowering our AGI by $11,000 and qualifying us for a heftier saver's credit, which would give us $4,000 back on tax day!
My question is: would it then be okay to rollover our Traditional IRA amount into our Roth IRA’s in 2018 after we have received our tax returns, but prior to April 15th? Is this kosher or tax fraud?
Thanks in advance for your time and reply!
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