Update: The general rule of thumb is that an individual is not eligible to receive Social Security disability benefits (SSDI or SSI) during incarceration. It does not matter if the conviction is for a misdemeanor or a felony. However, when benefits stop differs depending on whether you are receiving SSDI or SSI. As a result, individuals may receive Social Security benefits for a short time after incarceration. Click here for more information.
The 2015 IRA contribution limits will look just like it did for 2014. Both the traditional and Roth IRA will have the same contribution limit, which will max out at $5,500. If you are 50 years or older, there is a $1,000 catch up contribution.
Conversion Doesn't Affect MAGI. Roth IRAs limit your ability to contribute if your modified adjusted gross income is too high. However, even though your Roth IRA conversion counts as taxable income, it isnât included in your modified adjusted gross income.s a result, no matter how much you convert during the year, you can still make a contribution to either a traditional IRA or the Roth IRA that you rolled money into as if the conversion didnât happen. For example, if you roll over $3,000, you donât have to lower your annual contribution limit by $3,000.