In the United States, an IRA is an Individual Retirement Arrangement, a tax-deferred retirement account.

learn more… | top users | synonyms (1)

1
vote
1answer
29 views

Under federal rules, does a non-taxable IRA Roth Conversion impact school financial aid?

If you convert a traditional IRA to a Roth IRA and all the funds were deposited into the traditional IRA as non-deductible contributions, and there is no gain, and thus there is no income by the ...
1
vote
0answers
42 views

Can IRA contributions be recharacterized multiple times

Are there limitations on recharacterizing (not converting) IRA contributions such that you could not re-characterize a contribution multiple times? Recharacterized an Roth IRA to a traditional IRA, ...
0
votes
1answer
65 views

How to buy stuff (stocks?) in IRA account? What else?

I just opened an IRA account on TDAmeritrade.com. I only put in several thousand dollars as a starter, just for exploring the interface. I have never had an IRA account or even read much ...
1
vote
1answer
25 views

What is the contribution limit for a SEP-IRA?

I have a small business that will file taxes as an S-Corp for the year of 2015. The company has 1 employee (me). I pay myself a decent salary. In order to bring the company's taxable revenue down, I ...
1
vote
1answer
68 views

Pension Investing dilemma

I'm 61 years old, recently retired and need to decide how to take my pension from my former employer's pension fund. This is a church-affiliated hospital system pension fund in the USA and is ...
5
votes
2answers
219 views

If I'm eligible to max a Roth IRA, Do I ever considering putting money in both IRA types instead?

Age 28 (Turn 29 in November) Gross Income - 110,050 Retirement (At the start of 2015) - $12,000 in Roth IRA My current contribution for the year is aimed at: 9,000 in Roth 401k 9,000 in ...
1
vote
0answers
68 views

Inherited deferred comp by minors - tax advantageous approach

If minors who are not currently earning income were listed as beneficiaries on a deferred comp plan and owner of that plan passed away at age 63, what's the right approach to minimize taxes. From ...
0
votes
1answer
36 views

Are year-end balances all that matter when it comes to Roth IRA conversions?

My wife is in the process of transferring a retirement account from her previous job into a Traditional IRA. Once it is transferred, I know any Roth IRA conversions would also take into account the ...
2
votes
1answer
39 views

Is there a limit to how often you can convert a Traditional IRA to a Roth IRA within a given time period?

Is there a limit to the number of times you can convert a Traditional IRA to a Roth IRA within a given time period? For example, if I convert my existing Traditional IRA to a Roth IRA now, and then ...
2
votes
1answer
59 views

How to deal with IRA excess contribution without withdrawal, penalties, and fees?

I made my traditional IRA contribution for the 2013 tax year in April of 2014. I made my contribution for the 2014 tax year in April of 2015 and shortly thereafter received a notice from Principal ...
4
votes
2answers
92 views

Capital gains tax: Retirement vehicle (IRA, 401k) vs. anything else?

I've had this question for a little while and I asked a professional about it today, but I don't think I worded it well. As such, I didn't get a good answer. Theoretically, given an equivalent amount ...
3
votes
1answer
92 views

Is 401k considered a retirement plan offered by an employer?

I am trying to brush up on traditional IRA offerings out there. Specifically, I want to know whether the IRA contribution is tax deductible. The rules state that I can deduct the full contribution ...
3
votes
1answer
113 views

Cash Out IRA to Pay Off Debt

I have an IRA that I haven't paid into for over 10 years. I also have a State retirement plan that I have paid into for 10 years and will continue until I retire. Besides the penalties, any reason I ...
0
votes
0answers
59 views

Lower-cost index funds vs. managed (higher-cost) tax-advantaged IRAs?

If having to choose between a non-retirement lower cost index fund and a managed higher cost IRA (both traditional and Roth), which is less impeded and likely to grow more long-term? Put another way, ...
1
vote
2answers
135 views

Should I pay off my 6% student loan using the income that I would normally put into my two IRAs?

Question says it all. I would fund 10k to two IRAs, or I can put that toward the student loan for the next couple of years until it's paid off. Which makes more sense?
0
votes
0answers
62 views

Does saving for retirement pre-tax make sense to stay in a lower tax bracket if I'll earn more later?

Does it make sense to save in a Regular IRA vs the Roth IRA in order to keep me in the 25% tax bracket? In reality career wise I will probably cap out at 150k in today's dollars. I've been able to get ...
4
votes
1answer
94 views

Can I put IRA $10K withdrawal back into account within 120 days?

If I take $10K out of IRA for first time home purchase, use it and then come up with extra $10K within the next 4 months, can I put that $10K back into the IRA within the 120 day period (i.e,. ...
0
votes
0answers
36 views

Tax deduction of advisor fees?

Is there a tax advantage to paying advisor fees from a regular IRA vs paying from a cash account?
1
vote
3answers
81 views

Can you recharacterize an original Roth IRA to a traditional IRA?

This question is not about recharacterizing a traditional to a Roth, nor is it about undoing a recharacterized Roth back to a traditional IRA. If I opened an original Roth IRA account, can I ...
1
vote
1answer
98 views

Should I withdraw money from IRA or refinance home to pay credit card debt?

Should I refinance or withdraw from IRA to pay off 25K of credit card debt? I am 64, self employed earning about 30K/yr. My wife is retired. credit card debt snowballed and I now want to pay it off ...
2
votes
2answers
158 views

Should I move out of my actively managed IRA at Fidelity and put it all in index funds?

I have an IRA at Fidelity. It is where I have rolled old 401k plans into. Currently, I am paying Fidelity to actively manage the account. It is currently invested is many mutual funds, bonds and ...
3
votes
2answers
78 views

Can an early withdrawal from a Traditional IRA be done in two parts?

Let's assume that we've already determined an early withdrawal from a Traditional IRA will be taken and that it does not qualify for any of the tax-free conditions. I am aware of the lost opportunity ...
2
votes
2answers
91 views

Withrdraw funds that were converted from Traditional IRA to Roth IRA

From a previous employer, I had a traditional 401K which upon leaving that job I rolled into a traditional IRA. With a Roth IRA you can withdraw the "contributions" but not the gains. My question ...
6
votes
3answers
264 views

Are there any disadvantages to having multiple IRA accounts?

I have a primary IRA which I've rolled 401k plans into and contributed to on an annual basis. It is with a full service financial institution and managed with a financial planner. With the rise in ...
0
votes
1answer
171 views

Can I max out both an SEP and Roth IRA in the same year?

I am an independent contractor and get the majority of my income as 1099. I have both an SEP and Roth IRA that I have contributed to in the past, but I would really like to ramp up my retirement ...
0
votes
1answer
36 views

Redirecting my portion of beneficiary IRA?

My mother passed away last year. She left her three children as POD to her traditional IRA. I would like to give my 1/3 portion to my sister as a gesture of thanks for the 10 years she cared of our ...
4
votes
1answer
63 views

Does mutual fund front-load fee count toward IRA contribution limits? [duplicate]

I want to max out my IRA and I am investing in a mutual fund with 5% front-load fee. Does that mean that I can contribute $5,500 max for IRA but have real IRA balance $5,500 less $275 = $5,225 as a ...
0
votes
0answers
60 views

Setting up a tax deferring IRA

I work for a small company, so we have like no resources for helping us understanding benefits. My employer is willing to automatically give me 5% of my annual salary if I set up an IRA account. So ...
2
votes
3answers
482 views

Make IRA contributions all at once or periodically throughout the year?

I am trying to decide if I should make this year's IRA contribution all at once at the beginning of the year, or if I should space out the contributions throughout the year. If I make it all at once ...
1
vote
1answer
64 views

Dividends reinvested in a 401k or Coverdell ESA show up on 1099-DIV?

In the USA, I know that dividends reinvested within a 401k, IRA, 529, or Coverdell ESA are not taxable (initially). I was surprised to see them show up on a 1099-DIV form this year from my investment ...
1
vote
2answers
181 views

Basic Roth IRA Tax Understanding

I understand that a Roth IRA offers the benefit of paying taxes up front so that when the investor withdrawals the money at retirement, the funds won't be taxed. My confusion is that I have yet to ...
2
votes
1answer
314 views

I have a 414(h) pension plan as a teacher in New Jersey. Am I permitted to also contribute yearly to an individual Ira?

My husband is a teacher in New Jersey; 61 years of age. He has a pension plan listed on w-2 in box 14 (other). It is coded as 414(h). He asked the tax advise person at the school if he could still ...
1
vote
2answers
87 views

IRA transfer - any tax implications?

Assume I have a traditional IRA, which I had previously rolled my 401(k) into. I now would like to transfer to another traditional IRA at another broker (Vanguard). Are there any tax implications to ...
0
votes
3answers
120 views

Should I open an IRA, or will it be redundant once I get a 401k?

I'm 28 years old and currently a 1099 self-employed contractor at my job, and have been for 2+ years now. I make about $70k a year before taxes. I'm hoping to eventually get hired on full-time and ...
2
votes
3answers
213 views

Would it ever be a bad idea to convert a traditional IRA to a Roth IRA with the following assumptions?

Assuming: you had enough sitting around right now to pay the taxes you had at least 20 years until retirement you expect at least 7% per year return tax rate being the same as now (even though it ...
1
vote
2answers
278 views

How to split a Roth IRA into multiple accounts?

I currently have a roth IRA with a large brokerage firm but to increase the diversification of my portfolio, I'd like to invest in some securities that this brokerage firm will not invest in (in my ...
8
votes
2answers
1k views

What are reasonable administrative fees for an IRA?

I have a couple of IRAs (one roth, one traditional), at a local credit union for state employees where I live. I'm fairly young, so the money has simply been in interest-bearing accounts to date. ...
2
votes
2answers
111 views

What is the process for a Japanese citizen to inherit an IRA?

A Japanese citizen is a primary beneficiary of my IRA. What is the process for her to inherit my IRA?
6
votes
2answers
67 views

Distribution from a traditional IRA and future contributions to a Roth IRA

I am 60+. Can I still make contributions to my Roth IRA in future years if I start taking distributions from my traditional IRA this year?
0
votes
0answers
52 views

Self employed 401k and traditional IRA

I've got a self-employed 401k that I use for a small side business, which supplements a full time income I also receive. The 401k contribution allowance is usually small because my business income is ...
5
votes
1answer
151 views

Where should I take some money from after retirement? (IRA, 401K, Roth, Taxable)

I have three 401ks, each doing well. One has some pre-1987 money, another has some Roth money, and some has post tax, non Roth money. I also have several smaller IRAs and Roth IRAs, some of them ...
2
votes
1answer
326 views

IRA Deduction when changing from 401k offered job to non-401k job mid year

This is challenging one to figure out. I had a job that is ends 11/30/2014 that offered a 401k. I have a new job that doesn't offer a 401k. I'd like to max my IRA this year to avoid tripping ...
2
votes
1answer
274 views

Straight Index Fund vs IRA + Index Fund

I am about to open a traditional IRA and put my money in an Index Fund (to be decided). Which has the advantage that taxes are deferred until withdrawal. It also seems that I have the advantage of ...
1
vote
1answer
59 views

Deductibility of traditional IRA contributions in same year as Roth conversion?

Is the deductibility of my traditional IRA contribution at jeopardy if within the same year I convert a portion of that same IRA to a Roth? Note; I am aware of the phaseout thresholds. Thanks, Jim ...
-1
votes
2answers
82 views

1040 Annotations for IRA to Roth trick

If I contribute to an IRA that is non-deductible, I can then roll that over to a ROTH and pay no additional tax, assuming that there is no gain. I am assuming that I can do this until April 15 for ...
8
votes
1answer
243 views

Can I open a rollover IRA account in the US when I am not a citizen, nor no longer live there?

I lived in the US for about 7 years, and started saving money in the company's 401K plan. I had a green card, but decided to move to my home country years before it expired. I have a US SSN. Now the ...
1
vote
1answer
169 views

Sole employee of my own S-Corp - investment options? 401k, Roth, SEP?

I'm looking to start a retirement account and I'm looking for options that fit with my scenario. I'm the sole employee/owner of an S-Corp and as such, I give myself a W2 at the end of each year and ...
1
vote
3answers
102 views

Are contributions to ROTH IRA/401k effectivly bigger then to IRA

I've just moved to US and I started considering savings/retirement options (I'm mid-20 but I don't think it unwise to start early). I'm trying to max the contributions. I started to think if the ROTH ...
-1
votes
2answers
169 views

Selling units/shares in my startup to my Roth IRA

Since I can't transfer/gift shares directly to my Roth IRA, what's the most tax-efficient way for my Roth IRA to take ownership of as many units of my startup as possible? Is this even possible? If ...
1
vote
1answer
81 views

Condo Loss Carryover to offset IRA Distribution

I recently sold my condo with carryover loss exceeding $100,000. Can I use that loss to offset the distribution from an IRA account(regular income) during the same year? I am 66 years old. The ...