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C
coldsprings
April 13, 2025
Question

Married Filing Separately and Roth IRA

  • April 13, 2025
  • 1 reply
  • 0 views

I'm preparing taxes for my daughter who was married on 12/31/24 and now needs to file separately from her  ex-husband. She has been contributing to a Roth each month in 2024. What options are there to minimize her penalty and paper work? Thank you.

    1 reply

    K
    KeshaH
    April 13, 2025

    She'd need to recharacterize her Roth contributions to a traditional IRA by April 15 to avoid a penalty. She can then convert the funds in the traditional account back to a Roth account.

      C
      coldspringsAuthor
      April 13, 2025

      Thank you, Kesha. I appreciate the reply. 

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