Coronavirus (COVID-19) News and Resources
Coronavirus (COVID-19) Webcasts
Subscribe to Free Daily Newsletters
Post a Job

Featured Jobs

Retirement Plan Processor
T Bank NA logo
T Bank NA
(Dallas TX)
Defined Contribution Account Manager
Nova 401(k) Associates logo
Nova 401(k) Associates
(Houston TX / Dallas TX / Scottsdale AZ / Telecommute)

Free Daily News and Jobs

“BenefitsLink continues to be the most valuable resource we have at the firm.”

-- An attorney subscriber

Get the BenefitsLink app LinkedIn
Twitter
Facebook

<< Previous news item   |   Next news item >>



Roth IRAs and the Magical Disappearing and Reappearing Compensation Trick for Individuals with Foreign Earned Income
Bloomberg BNA Link to more items from this source
Oct. 1, 2014
"In determining compensation for purposes of the 'dollar limitation' applicable to Roth IRAs ... compensation does NOT include foreign earned income (nor any amounts excluded through the foreign housing exclusion).... On the other hand, ... foreign-earned income IS treated as income for purposes of ... the phase-out limit.... Under phase-out rules, the contribution limit for Roth IRAs may be reduced based on a combination of the amount of a taxpayer's modified adjusted gross income (AGI) and federal income tax filing status.... AGI is computed for purposes of the 'phase out limitation' without regard to the I.R.C.'s provisions excluding certain foreign earned income or housing costs from gross income."

Please click here to report this link if it is broken (for example, if you see a "404 File Not Found" error message after you click on the link above).
An important word about authorship: BenefitsLink® is providing a hypertext link to the item shown above, but is not the author of the item (unless otherwise specified).
© 2020 BenefitsLink.com, Inc.