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Strategies & Market Trends : Roth IRA ideas
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To: Rich23241 who wrote (32)1/31/1998 3:39:00 PM
From: Ken Ludwig  Read Replies (2) of 388
 
AGI and ROTH IRA. If,early in 1998, one opens a Roth IRA and makes less than $100,000 in ordinary income outside the IRA but makes more than $100k when Roth gains are included what happens? The IRS
can take away the shelter and impose penalties if your AGI is more than $100k but, as far as I know, is silent on this point? Does this mean that the Roth is not useful, inded dangerous to use becasue the penalties are retroactive to this tax year? Sheesh!
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