Social Security, IRAs, and Backdoor Roth Contributions: Q&A #2122

May 29, 2021

Social Security, IRAs, and Backdoor Roth Contributions: Q&A #2122

Jim and Chris sit down to answer listeners questions relating to Social Security, IRAs, backdoor Roth’s, and overcontributions to Roth IRAs.

(3:25) A listener looks for clarification on collecting spousal Social Security benefits.

(8:15) George from California asks about Social Security survivor benefits.

(18:30) A listener has a question about the possible taxation of non-deductible traditional IRA contributions.

(27:30) A listener looks for help with filing a form 8606 and proving after-tax contributions in an IRA.

(33:00) This listener expresses her concern over the pro-rata rule and looks for advice on what to next.

(41:00) George from Oklahoma wonders about overcontributing to a Roth IRA and whether or not the IRS will notice.

Check out the background of firms and investment professionals on SEC’s Adviser Info Page.

Jim Saulnier and Associates | 970-530-0556 | 506 East Mulberry Street, Fort Collins, Colorado 80524

Ed Slott Advisor recognition requires an advisor to be well versed on the rules and regulations regarding IRAs. The advisor must attend two live training sessions and pass two written exams annually to remain in the program. Jim Saulnier & Associates, LLC (“RIA Firm”) is a registered investment adviser located in Fort Collins, CO. Jim Saulnier & Associates, LLC may only transact business in those states in which it is registered, or qualifies for an exemption or exclusion from registration requirements. Current registered states: CA, CO, PA, TX, WA, IL Insurance products and services are offered and sold through James H. Saulnier, a Colorado licensed insurance producer, only in those states in which he is reciprocally licensed or qualifies for an exemption or exclusion from licensing requirements. Current reciprocal insurance licensing in these states: AZ, CA, CA, CN, FL, HI, IA, MA, MD, NY, PA, SC, TN, TX, VA, WA, WI, WY Click here for a more detailed disclosure.