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Strategies & Market Trends : Roth IRA ideas

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To: Mitch Aunger who wrote (34)	1/31/1998 5:34:00 PM
From: Ken Ludwig	Read Replies (3) of 388

I was not suggesting the Roth would be eliminated. The problem I am trying to solve is the possibility that one opens a Roth IRA now and then has more than $100k ($150k married)in ordinary (AGI) income. My understanding is that if that occurs the Roth becomes null and void and all the income is taxable as ordinary income plus a penalty. My other concern is how AGI is calculated in this year if a lot of gains are made within the Roth to push total income over the limits. Would that trigger the loss of the tax benefit? I made a lot of money last year and am trying to avoid the same massive tax impact this year. The Roth at some point(now I hope) could be a speculators dream. It also should make taking capital gains tax neutral decisions. The start-up period is very confusing on these issues and I don't want to get clobbered at the end of the year for decisions made now.

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