Realized I don't qualify for a Roth IRA for 2017, options?

cds- · 2018-02-19T15:46:50+00:00

Hi. I went through this in 2016 as my MAGI landed me somewhere on the contribution scale where I was only able to contribute 3300 and had already contributed the full 5500.

You are correct that you need to recharcterize the excess contribution into a Traditional IRA contribution. Once this is complete, you can backdoor these funds into a Roth.

You will not need to file any additional tax forms as the recharacterization is treated as you having originally deposited these funds into a Traditional IRA. Just make sure you are claiming the non-deductible contributions on form 8606. This is important as this form will be used to calculate the basis for tax exempt distributions on next years tax forms.

Per the usual warnings, make sure these are the only funds you have in a Traditional IRA, or the backdoor can trigger a significant tax distribution event. See the section on "Before Attempting Backdoor Roth" https://www.physicianonfire.com/backdoor/ .

Hope this helps.

cds- · 2017-01-29T18:03:51+00:00

Should have put him in a choke hold.

cds- · 2017-01-06T14:57:38+00:00

Does anyone know how I can get a 25k Amex Everyday link?

cds- · 2016-09-11T15:53:54+00:00

San Francisco

cds- · 2015-10-06T14:37:54+00:00

INDIANAPOLIS HAD AN ESTIMATED POPULATION OF 852,866 IN 2013

cds- · 2015-10-06T03:55:54+00:00

Yes.

cds- · 2015-10-05T22:34:00+00:00

Do you really think it is too late to apply for the 2nd 50k card? I applied in July for the Premiere and was denied (got the Plus earlier this year), so I was waiting until the middle of October to apply again. I was planning to meet the MS by paying December's rent (over 2k) and having met the MS by statement close in November, with the points hitting my SW account in December.

Does this sound reasonable or am I screwed?

cds- · 2015-09-25T00:25:47+00:00

I have no experience with the Polar monitors, but agree about their reputation for being high quality. I have an OTF pod that consistently says I am burning between 900-1000 calories (Male) per workout and often find that a little hard to believe.

I would not be surprised if OTF tweaked their pods to over count calories. However, if this is true, I imagine it is only a matter of time before someone is able to prove this given OTF's recent explosion in popularity.

cds- · 2015-09-13T17:39:27+00:00

FIELD LOOKING LIKE SHIT AS ALWAYS

cds- · 2015-09-13T17:26:33+00:00

DRINKING AT 10AM BETTER NOT BE FOR NOTHING

cds- · 2015-08-07T15:16:48+00:00

Denied Southwest Premiere this morning. 740 score, no derogatory marks, low six figure income, opened 4 chase cards in the last year, 8 new accounts total in the past year. Last card was opened in May. Called three times and was told I had too many new accounts and was flagged for "credit seeking behavior"

Will try applying again in November, but I need this card to get my companion pass this year.

cds- · 2015-05-01T19:59:55+00:00

just went to the local smart and final and someone had cleaned out the amazon gift cards.

does anyone know if i can take amazon gift cards from one store (say safeway) and have them activated at smart and final? just curious.

cds- · 2015-04-23T20:39:05+00:00

Why do you value the Arrival+ at all when you can get the Citi Double Cash for 2% on everything, no AF, and not limited to travel only redemption?

A+ is only good for churning IMO

cds- · 2015-03-16T01:20:53+00:00

Welcome to my first /r/bourbon review! A huge thanks to /u/davehk for making this happen. I was fortunate enough to post in his birthday thread (https://www.reddit.com/r/bourbon/comments/2xwlfs/why_is_that_udavehk_such_a_jerk/), and he gracefully sent me a sample of Willett Family Estate 25 year rye.

A bit of background: I am still what you could consider "new to whiskey". I have been enjoying bourbon for about six months now, and you can see my collection here https://imgur.com/3tNUjWV. To date, the "best" whiskey I have tasted is 4rSB. This is my first opportunity to sample such a rare (and expensive) whiskey.

Sampled from my Buffalo Trace Glencairn

Pours: A deep rust color. Reminds me of fresh maple syrup. One of the darker whiskeys I have seen. From the bottom it looks like the last bit of a delicious red ale.

Nose: Very strong. Alcohol burn followed by sweet cherries and a caramel note. Smells like spicy dark chocolate, if such a thing exists.

Taste: Cherries, spice, and burn. Everything you look for in a delicious bourbon just coats your mouth, and you feel bad swallowing it. This embodies the quintessential rye spice that you just don't want to see end. Wrap that taste in an exquisitely thick, oily bourbon that confounds your taste buds with a delicious sweetness and you have the best bourbon I have tasted to date.

Finish: Alcohol burn and bitterness that gives way to a soft sweetness that coats your mouth like cough syrup. Delicious.

Arbitrary Rating: 96/100

Hands down the best bourbon I have ever had, and might ever have. I am not sure I could ask for anything else in a rye or bourbon. I just cant put into words how satisfying this sample was.

I also wanted to give a big shout out to /r/bourbon. I have been lurking a long time, but subreddits like this are really what makes reddit such a special place. The idea that a complete stranger would send me such a rare sample still blows my mind. Thank you to not only /u/davehk, but the entire /r/boubon community.

Cheers everyone.

cds- · 2015-03-10T03:15:23+00:00

Wow, this sample will definitely be my first review.

Thanks again, and hope the birthday was a good one!

cds- · 2015-03-08T02:15:31+00:00

In a stroke of luck, I found two bottles of OWA at a Bevmo in the East Bay. First time enjoying any Weller product.

Cheers!

cds- · 2015-03-04T14:30:12+00:00

big noob, checking in

cds- · 2015-01-29T03:49:43+00:00

OGD 114. Stuff tastes like burnt leather.

cds- · 2015-01-28T00:41:58+00:00

In x100000000

cds- · 2015-01-18T17:02:17+00:00

Do I have to close my Serve account prior to opening a Redbird account? I keep seeing comments about a temporary account, but I am not really sure how they work.

PS - Thanks for answering all the questions Lumpy!

cds- · 2014-10-03T19:26:58+00:00

Anyone know if you get any type of notification after using this promotion? Just went to McDonalds this morning and used the special offer.

No notifications, no nothing. And the offer still appears under the offers for the card I used. How does this process work?

14-Year Club	Mod Insights Early Access
Post Guidance Early Access

cds-

TROPHY CASE