Still think TITNC3: Return of the Iceberg was peak

Sooo..
Money people..
Doing my taxes and culling together my wife's stuff and I discover that she's been contributing to a ROTH Ira for 2021 with also contributing to her work 401K (clearly not allowed at the % level she's doing her work 401K way exceeds limits)
Soooo It was only 200/month so she has 2400 ineligible contributed to a ROTH for last year.
How do I fix this?
I'll be researching and I see there's sort of forms, but can I just move it to a traditional? I think she was trying to set something up as a side saving for whatever...

 

Just withdraw it

or move it traditional if that’s set up. You might have to withdraw and report any earnings on that money also.

 

It was all on VET options! Well played by her

 

nope...defaulted into Fidelity freedom fund

 

Can't move it to traditional. Max limits on IRA's are aggregate.

 

I thought his issue was income based not max limit related. Buy yes, if it’s maxed out

 

So apparently she talked to someone at Fidelity when we were looking at paying for college for my kid. That advisor said a 529 and Roth IRA can perform the same...so just do a roth IRA...without taking into account that she already contributes to a 401K and that plus earnings makes her Roth ineligible...
I guess that explains why you WOULD want to do a 529....instead of a ROTH because your prohibited from contributing.

 

She only did $2400, so $4800 combined if she moves it...

 

We did the custodial, ROTH for our kid I think they needed earned income to contribute

 

Yep. Just re-read it. Moving it to a trad should work just fine.

 

I doubled down on 4/8’s and 4/14’s + shares after “robin da hood” (@MESO )
auto sold one of my ITM calls worth far more money than I got for it. Funny how the call price shot up right after the “set” sell time for expiry

 

My favorite part of the place. Germany built a tunnel under superstonk and somebody put a weenie dog on the left side.

 

omg his butt is on the other side hahahaha. That wasn't there earlier.

 

Chair Man's eyes though, they give me nightmares.

 

@ThunderCookies where you at protein shake?

 

Fuck that shit from a patiet perspective. NP training is wildly inconsistent from school to school in the US.

The system's heavy desire to use them and PAs to help margins under the guise of expanding access is why I utilize direct primary care.

 

Yeah, I decided I was done with that shit 5 years ago.

https://www.prominahealth.com/

Our doc works for us, because we pay him. Not the insurance company.