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

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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 ...
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1answer
65 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 ...
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1answer
103 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 ...
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1answer
102 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 ...
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1answer
51 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 ...
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2answers
61 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 ...
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1answer
75 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 ...
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1answer
60 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 ...
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3answers
72 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 ...
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2answers
116 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 ...
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1answer
49 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 ...
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1answer
52 views

Self directed IRA holds income property that generates cash flow. Can we withdraw based on wife's age?

I have a self directed IRA that has invested in income property. It generates a few thousand a month in positive cash flow which is currently being re-invested in other funds that the IRA holds. ...
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2answers
40 views

How is non-deductible portion of Traditional IRA determined at time of withdrawal?

I've contributed $5500 to a Traditional IRA, planning for that to be tax deductible. My employer didn't have a 401k plan earlier in the year, but will have one implemented before the end of this year ...
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1answer
76 views

Options for retirment investing if no company 401K available

Due to some unexpected circumstances and poor planning in 2014 neither my wife nor I have been able to contribute to a company run 401K plan. My employer does not offer a retirement plan benefit yet ...
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1answer
25 views

Self-directed rollover IRA and foreign country investment

I have self-directed Rollover IRA account. I see a good opportunity to invest in foreign country as fixed deposit for 5 yrs. If in Indian Rupee it will earn more interest versus US$ denominations. I ...
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1answer
88 views

Is the new myRA retirement savings account option worth it?

I just recently looked into investing (as a 26 year old, I know I'm slightly late to the game). But the myRA option looked appealing. However, I couldn't find an abundance of information on it, as I ...
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0answers
30 views

Should I cash out my IRA to pay my student loans? [duplicate]

I'm 27 and I have an IRA of around 125K. I'm about to transition into another position with a salary of around 85K-100K. I have around 15K in smaller debts that include credit cards and medical. I ...
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1answer
48 views

If I roll over my retirement into an IRA, can I pay off my school loans at the same time without having that sum penalized?

I want to roll over a lump sum of retirement funds into some type of savings account, but want to designate a certain amount of it to pay off school loans. Can I do it without being taxed and/or ...
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2answers
57 views

Withdraw from IRA or regular savings for First Time Home Buyer?

What is the optimal way to source the funds for down payment of a first time home buyer? I understand if I withdraw 10k of an IRA account there will be no 10% tax penalty, but there will be taxes to ...
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5answers
518 views

Withdrawing IRA early to pay off large credit card debt?

I am 38 years old and married. Because of a mix of bad luck (multiple lay-offs between my husband and I over the years which led to months of unemployment, unexpected major medical bills), choice (job ...
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2answers
197 views

Can I max out all retirement account types?

Hypothetically speaking, could I contribute the maximum to a 401k, a Roth 401k, an IRA, and a Roth IRA? That would be a total of 46k per year (17.5k + 17.5k + 5.5k + 5.5k).
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1answer
284 views

Can I deduct IRA contributions and take the standard deduction?

If I have the standard deduction on my taxes (that is, I don't itemize), can I deduct IRA contributions? If so, would that be for Traditional or Roth IRAs?
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3answers
113 views

As an employer, how do I start a 401k or traditional IRA plan?

As a small business owner, what are the requirements for me to start a 401k or traditional IRA fund? How much do they cost to manage? I'm in the very early stages of my company right now but I would ...
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4answers
146 views

Does it make sense to take out student loans to start an IRA?

Let's say you're an undergraduate student, and you're eligible to take out more money than you need to pay for school expenses (at a fixed interest rate of 4.66%). Due to compounding, it's always best ...
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1answer
70 views

Traditional IRA - First Home Purchase - Does the $10K limit apply to each spouse or the entire household?

One can withdraw up to $10K for first time home buyer. My question is if each spouse can make the withdraw or is 10K by purchase?
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8answers
794 views

Roth vs Traditional Investing assuming same tax bracket in retirement

I've done a little (simplified) math to determine the difference in investing in a Roth account and a Traditional retirement account. I'm assuming that I will be in the same tax bracket in retirement ...
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2answers
153 views

401k Rollover into IRA (First Time Home Buyer)?

WALL OF TEXT AHEAD. Ok so I don't even know if this is even "possible" but I figured I'd ask. My 401k plan I have is honestly pretty crap, zero matching, really poor rate of return (1-2% on average ...
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4answers
202 views

Why invest in IRA while a low-cost index fund is much simpler?

I'm currently investing in a low-cost index fund and wonder what's the point of opening an IRA (either Roth or traditional). The big con of IRA is that you can't withdraw before retirement age ...
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0answers
34 views

Which online brokers offer free or cheap IRA conversions and transfers?

I am considering to a backdoor conversion between a traditional IRA and a Roth IRA. The problem is my current broker's FAQ states that they don't support IRA conversions at this time. Does anyone ...
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2answers
367 views

Can I pay too much into an IRA?

Is it possible to accidentally put too much into a Roth IRA? Suppose I have setup direct deposit to contribute $5500 annually to a Vanguard fund, but my math was off and I contributed $6000. What ...
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2answers
175 views

Short Term Capital Gains tax vs. IRA Withdrawal Tax w/o Quarterly Est. Taxes

So I had to pull funds from my IRA account earlier this year. I had taxes withheld and realize there is a penalty, however, my question is two part: with penalties and taxes for early withdrawal, I am ...
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1answer
171 views

What to do if I get refunded by my 401k for being considered HCE?

If my employer gives back some of the money I put away on my 401k because I am considered a HCE, can I turn around and put it back into an IRA to avoid paying taxes and penalties that year? I am over ...
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3k views

Should I use IRA money to pay down my student loans?

I have just over $140,000 in consolidated student loan debt with a fixed interest rate of 5.75% on an income-based payment plan. My current and previous employers qualify for the Loan Forgiveness ...
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2answers
76 views

What rules are there for re-characterizing IRA contributions for current tax year?

I have contributed $5,500 to a Roth IRA for tax year 2014. My income is variable due to a variety of factors throughout this year, so I do not know whether my income will be within the limits for ...
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2answers
162 views

How can I calculate my income for purposes of an IRA deduction when I have HSA/401k deductions?

This chart here has the income restrictions for IRA deduction income limits. It does not use your AGI but a modified AGI. I have been unable to find any resources detailing how this income ...
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3answers
92 views

Allocating IRA money, clarification needed

I transferred my 401k to Vanguard IRA and allocated 70% of my money across: VIG (Dividend growth) VYM (High Dividend) VXUS (International) VTI (Total stock market) With market being ...
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1answer
87 views

Add > 5,500 (excess contribution) to Roth IRA for temporary investment?

I have an standard IRA through work and an additional Roth IRA. I split my contributions between the two accounts. I understand the max contributions to the accounts combined is 5,500 per year. A ...
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3answers
110 views

Roth vs Traditional IRA Question

With a traditional IRA, you are taxed on the complete balance of your account when you cash out after retirement correct? This would mean you are taxed on contributions + interest earned. With a ...
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2answers
63 views

Is there a “Rollover as business startup” for IRA?

I had a 401(k) with my employer, who I left recently. I'm considering rolling this over into an IRA since I will avoid a small maintenance fee this way, but I'm not sure if I will lose the ability to ...
5
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3answers
576 views

If my 401k plan allows for pretax and Roth contributions, why would I want to open an IRA?

My company is switching to a 401k plan provider that allows for both Roth and pretax contributions. If I can make either type of contribution to this plan, why would I want an IRA? The previous 401k ...
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1answer
122 views

Married couple, high combined income: Can we contribute to IRA, on top of 401k?

My wife and I earn between $180,000 and $210,000 combined. The amount varies due to job changes and side consulting. She puts about 4% of her salary into a 401k which is fully matched. I put in 6% and ...
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2answers
247 views

Pros/cons of replicating a “fund of funds” with its component funds in my IRA?

I'm interested in investing in the Vanguard Target Retirement Income Fund in my IRA. That fund is made up of 5 funds: Total Bond Market II Index Fund Investor Shares (very similar to the Total Bond ...
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2answers
154 views

Legal and tax implications of former H1B holder trading in IRA account from India?

I am a former H1B holder. I am now in India. While on H1B in the U.S., I established an IRA account. My questions: Can I use the IRA account to trade options and stocks legally? If so, how can I ...
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2answers
345 views

After moving a 401k to a Traditional IRA, can I move it back out to another 401k?

I plan to join a new company that doesn't currently offer a 401k and I have funds in my old employer's 401k. I was thinking I would move the funds to something like Betterment who would do a 401k to ...
3
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2answers
81 views

Can I contribute to an IRA from investment income?

Can one contribute to IRA if the income for the year is received from stock sale only (no W2)? What I have been reading is that in order to contribute $X to IRA I need to have earned $X of income, ...
4
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3answers
176 views

Saving for retirement without employer sponsored plan

I'm considering moving to a new job that doesn't have any sponsored retirement plans. I'd like to continue saving on my own though, but it seems that IRAs have a $5,000 contribution limits. What are ...
4
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1answer
137 views

REITs - Traditional Account or Roth

When investing in REITs there are tax advantages in putting the investment in a retirement account. Is it better to put a REITs in a Traditional IRA or a Roth IRA considering overall growth and tax ...
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1answer
219 views

Retirement saving without employer sponsered plan?

I currently have a 401k with my employer and contribute 7%. If I no longer had the 401k, what would be my options for retirement savings? Ideally keeping the tax deduction benefits I have now. I ...
2
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4answers
235 views

60-Day “Borrowing” From an IRA

In brief, I am projecting out a budget for a personal construction project I am having done, and the numbers are very tight. I have some buffer built in, but if I exceed the buffer amount and my cash ...
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1answer
95 views

Is contributing to traditional IRA then converting to Roth a way around MAGI limit?

We usually contribute to a Roth IRA, but our income is variable enough that sometimes our MAGI is over the limit. In this case I want to contribute the full amount (post-tax) to a traditional IRA and ...