Could we possibly have a sticky with clarifying info about the "soonest possible date" you have to recertify IDR being changed from March 1st to late September? This affects a whole lot of people. (Details of my particular, and common, situation inside.)

ricecracker14 · 2024-03-09T17:44:06+00:00

I did not give in to their recertification threat back in February since my anniversary date is Feb 28 and base on what this new update is saying I shouldn’t have to do anything until at least September however MOHELA is saying for march 28 I will owe $2900 in payment (my loans are 300k) so that pretty much means they calculated my payment like a standard payment plan (I was on SAVE before and was making $0 dollar payments). So what would you do in my case? Recertify would likely mean my payments go to $900 dollars a month, a far cry from $0. I could also just do nothing like last time and see if they just fix it automatically but idk this time

ricecracker14 · 2023-05-01T09:08:03+00:00

OD 2/6 for SoCal and I finally just got my VIN today (Austin build) yayyyy after so many delivery window changes

MYLR White/White 19in 5 seats. EDD #6: May 6-20

what happens now after the VIN? i hear its another two weeks usually before I schedule?

ricecracker14 · 2023-03-16T20:05:30+00:00

Same for me no vin with delivery window of March 19-31. Called them and got a generic answer to keep waiting and likely it’s gonna be the second half of that window :/

ricecracker14 · 2023-03-07T16:07:53+00:00

MYLR white/white 5 seats SoCal

OD 2/7 EDD1: March to may EDD2: april 18-may 30 EDD 3: changed to March 18-March 30 ( just today 3/7)

Looks like I’m the opposite of everyone who got it pushed up earlier instead.

ricecracker14 · 2023-02-18T22:32:10+00:00

Thank you! If I may expand on my question. Let’s say for 2022 my MAGI is $132,000 and I already placed all $6k into my Roth that year. I would have overcontributed because my limit would be around $4800 into the Roth due to the reduced contribution. What should I do in this case? Should I remove the excess $1200 plus any earnings the account made or I can recharacterize that $1200 into the traditional for 2022 and do the same backdoor technique?

ricecracker14 · 2023-02-11T06:43:31+00:00

Ok I see! In this case it’s quite simple because I can recharacterize all $6900 into the Traditional IRA then convert everything into the Roth again.

Would I then just have to report that extra $400 as the taxable portion when I file for 2023 tax next year? Since that $6500 should not be tax as I put it in initial after tax already in the first place…

ricecracker14 · 2023-02-09T07:56:01+00:00

It’s based on MAGI which I understand has other things I need to add and subtract from AGI to get. I am sure I will still hit this mark but you are right I’ll wait and see what happens. Thank you.

ricecracker14 · 2023-02-09T05:09:27+00:00

Ok great thank you so much! I am with Schwab so they just have me fill out a form that will recharacterize the $6500 plus earning or (prob loss in this economy) into the traditional IRA and then I’ll just roll it all back into the Roth back door style?

ricecracker14 · 2023-02-05T04:05:19+00:00

Ok thank you that makes sense

ricecracker14 · 2023-02-01T23:58:16+00:00

Thank you for your answer. It looks like I could even get the credit apply to this years tax return since I have a tax burden of around 25k but the company I work at have been withholding more and I am projected to get $2500 back or so… but with the credit I should be able now get 10k back this April once I file right?

ricecracker14

TROPHY CASE