Tagged Questions
0
votes
1answer
35 views
Conflicting information about late recharacterizing of excess contributions
Say someone contributed more than they were allowed to for a Roth IRA in Year 1 (therefore, there was an excess contribution). Can they still re-characterize that contribution to a Traditional IRA ...
2
votes
1answer
84 views
Can I convert a traditional IRA to ROTH pre April 2013 and have it matter for 2012
I believe there is opportunity to contribute to an IRA up to April 2013 and have it count on tax year 2012. It wasn't clear from this question, so I'd like to ask specifically if it is possible to ...
6
votes
3answers
1k views
Could a 401k or IRA contribution switch my current taxable income to a lower tax bracket? is this the same for traditional and Roth 401k?
In the case that my annual income is right in the limit between one tax bracket and the next tax bracket. Can contributing to a 401k or IRA reduce your present income declaration in such a way that ...
3
votes
1answer
147 views
What are the tax results of a 401k to Roth IRA rollover?
In 2011 I rolled over my (Traditional) 401(k) into a Roth IRA.
I realize that I will need to pay taxes on the rollover, but I had a few questions.
Do I pay taxes on the full amount, or only the ...
9
votes
1answer
140 views
If you're married, can you still file an income tax return as a single individual?
Roth IRA limits on income make it advantageous for my wife to file single. We are getting married this year in November.
The IRS says that if you are married filing separately, that essentially she ...
3
votes
3answers
133 views
Minimum investment per year to make Roth IRA worth it?
So I've decided to start a Roth IRA but talking to a few colleagues of mine they said that there's a few fees and stuff that comes with it such that if you don't put in quite a bit of money each year ...
6
votes
3answers
278 views
How safe will Roth IRAs/401(k)s be going forward re: US's deteriorating fiscal position?
I've on and off wondered how "safe" Roth accounts are and things like this anti-Roth screed in the LATimes and this blog post at the Atlantic talking about the sad fiscal shape of the US has me ...
5
votes
3answers
77 views
Designating a Roth contribution to the 2010 tax year: How does it work?
I would like to contribute $2000 to my Roth IRA and designate the contribution for the 2010 tax year. I would also like to know just how it works and how to do it.
I know that designating this for ...
5
votes
1answer
594 views
How can I make a Roth IRA contribution AFTER filing taxes for 2010?
I just e-filed my 2010 taxes and have received a direct deposit of my refund already. I just realized I'd like to make a contribution to my Roth IRA (and my wife's) for 2010. How can I do this? Do ...
4
votes
3answers
474 views
Do I really need to add Roth IRA contribution information to my tax return?
I've never quite understood what the purpose of a contribution form was for a post-tax contribution to a Roth IRA. I'm not getting a deduction for it or anything, after all. Is there any consequence ...
4
votes
2answers
314 views
What is exactly is considered taxable income when you retire?
I'm in my 30's and trying to figure out whether I should convert some of my traditional IRA funds into a Roth. The funds would be taxed at 15% based on my current taxable income. So, I need to best ...
6
votes
2answers
89 views
IRA conversion when part of the contributions were non-deductible. Taxes owed?
I have a traditional IRA, which has money which has been contributed three different ways:
deductible IRA contributions
non-deductible IRA contributions
rollover from 401(k)
I'm looking at ...
5
votes
1answer
385 views
How to claim a minor's income?
When a child earns money babysitting or doing yardwork for neighbors, it's common to ignore claiming the income, as income earned by the minor has its own deduction, and would likely not generate any ...
