Roth IRA & Income Limit
My husband and I have already contributed $5k each towards our Roth IRA for 2008. The company I work for was suddenly sold and my options were automatically cashed out. I'm almost certain this puts us over the $165k income limit for people who can contribute to Roth IRA's but I won't know for sure until we get our taxes done in a few months. If we are over the limit, what happens? Will we be forced to take out the $5k from our Roth IRA's, even if we've already invested it and lost money given the current market??
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