Rental income is not considered W2 income, but it is part of your total income. The modified adjusted gross income is the number that the IRS uses when they calculate your Roth IRA contribution. Ingrid simply just needs to use the workaround and then make a non-qualified traditional IRA contribution and convert it.
#407: Ionnie wants to vet her tax professional as diligently as she assesses her financial advisor – how should she go about doing that?
Anonymous needs a career change, and she needs help figuring out how to approach the decision making process when choosing and preparing for her next field of employment
MM prefers the simple path to wealth and investing in real estate but is looking for more information on a more intentional and selective approach to investing.
Ingrid calls in to ask whether she should include her rental income when trying to figure out how much she can contribute to her Roth IRA.
Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode.
Enjoy!
P.S. Got a question? Leave it here.
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