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Is it correct that a penalty is being calculated on a Roth IRA contribution when the income is from out of the country

470pitt
Level 3

My client has income reported on a 2555 and his wife has us income they both contributed to a Roth IRA 6500 for him and 5500 for her why is calculating a penalty for over contribution he does have income

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rbynaker
Level 13

Is there any non-excluded earned income on the return?

If you add back the excluded foreign income, are they above the Roth IRA contribution limit?

https://www.thebalance.com/ira-for-workers-abroad-3193218

Rick

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rbynaker
Level 13

Is there any non-excluded earned income on the return?

If you add back the excluded foreign income, are they above the Roth IRA contribution limit?

https://www.thebalance.com/ira-for-workers-abroad-3193218

Rick

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