2
votes
1answer
143 views

Are distributions from Roth 401k or Roth IRA accounts taxed in India?

I am wondering if India distinguishes between pre-tax and roth IRA/401k accounts. So, if I am contributing to a roth account (401k and/or IRA) - would I have to pay taxes in India again: On the ...
2
votes
1answer
256 views

Contributing to a Roth IRA while income tax filing status is “Married Filing Separately”?

Most of 2013 I was married, though there was a portion of the year that I was single. Because my spouse and I have unusual work situations (mixture of self-employment, business ownership, and ...
7
votes
2answers
211 views

Why is there an income restriction on contributing to a Roth IRA?

Currently, single adults making more than $112,000 ($178,00 for couples) per year cannot use Roth IRAs I was just wondering what the reasoning behind the income restriction was for the Roth IRA ...
2
votes
1answer
816 views

Tax consequences for commingled money rolled over from 401k to Traditional IRA to Roth IRA

A 401k account with pre-tax and post-tax funds at Institution A is rolled over as one lump sum into a new Traditional IRA at Institution B. The funds are commingled at this point. The funds will ...
1
vote
2answers
558 views

How are employer matched contributions handled in rollover from Roth 401k to Roth IRA?

I recently asked this question: Can I do a Roth 401k rollover to Roth IRA and withdraw contributions I've made this year? In there, one of the answers pointed out that employer 401k contributions ...
0
votes
1answer
98 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
101 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 ...
9
votes
3answers
5k 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
194 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 ...
10
votes
1answer
175 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 ...
4
votes
3answers
154 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
361 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
81 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
793 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
540 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
415 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 ...
7
votes
2answers
116 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 ...
7
votes
1answer
444 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 ...