1
vote
2answers
57 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 ...
3
votes
1answer
87 views

Is it possible to transfer a 401(a) from one brokerage to another?

I created a rollover IRA at Schwab, and am trying to transfer the account, but it seems a bit more difficult than I thought. When I create a rollover IRA from Schwab, and try to transfer the Fidelity ...
0
votes
1answer
87 views

Do 414(h) rollovers need to be included on form 1040 Line 16?

Upon leaving a teacher position, we rolled over 414(h) contributions to an IRA. The money was sent directly to the IRA and no taxes are due. My question is does the transaction need to be reported on ...
3
votes
2answers
73 views

Already made contributions to a Rollover IRA in 2013, but exceeded the income limit to deduct. What to do?

I switched jobs in February of 2013 and rolled over my 401(k) to a Rollover IRA, which as I understand it, is equivalent to a Traditional IRA. Over 2013, I contributed $4125 to the Rollover IRA and ...
8
votes
1answer
343 views

Why would I not rollover my 401k into an IRA when permitted?

Currently in the US there are circumstances which allow you to rollover your existing 401K into an IRA, such as when you change employers. You may also keep it in the existing employer's plan or roll ...
7
votes
1answer
419 views

Rolling over a mixed 401k (Traditional and Roth) to a Roth IRA

I am rolling over my old 401k to a new Roth IRA. My 401k contained my pre-tax contributions, post-tax contributions, employer match, and employer profit sharing. I am guessing my employer match and ...
5
votes
3answers
184 views

If I expect to have little earned income in a few years, should I prefer a traditional IRA to a Roth IRA now?

I'm currently in the 25% tax bracket, with a salary of $71K; I max out my contributions to a Roth IRA and contribute to a Roth 401(k) past my employer's match. I'm also planning to attend grad school ...
2
votes
1answer
60 views

Rollover IRA: Open with my broker, with my bank, or other? How do I go about evaluating?

I've read a few posts here and here to educate me on the pros/cons for the type of IRA. I currently have a bank account with a major bank and a brokerage account with a major brokerage company. How ...
3
votes
1answer
190 views

Former 401(k) plan closed and check mailed to me. Can I roll over this money and avoid paying tax?

My former employer's 401(k) plan has been terminated and I was mailed a distribution check with 20% tax withheld. However, I wanted to move my money into my current employer's 401(k) and not pay tax. ...
2
votes
1answer
102 views

Does a rollover IRA impact your basis for converting a traditional to Roth?

In the United States, does having a rollover IRA impact your basis for converting a traditional to Roth? I ask because I have a 401(k) with a former employer than I could rollover to an IRA and get ...
2
votes
3answers
472 views

Any reason to keep IRAs separate?

Whenever I have rolled over a 401k from a previous employer, I have used a separate IRA for each rollover. Now, I would like to consolidate all these different accounts into one single account for the ...
2
votes
2answers
1k views

Can I rollover an “individual retirement annuity” to an IRA?

A few years ago, my wife inherited the assets from some sort of retirement account from a deceased relative. At the time, we were less investment-literate than today, so with the aid of a financial ...
1
vote
1answer
271 views

Proper way to report Simple IRA to Rollover IRA transfer

I have two IRAs: a Simple IRA (for more than two years), which I contribute to every month, and a Rollover IRA, which I use for automated trading. I had the Simple IRA broker do a trustee-to-trustee ...
7
votes
3answers
1k views

Best to roll over a 401k into a Roth IRA or traditional IRA?

I am rolling a 401k from a former employer to an IRA or Roth. I am trying to figure out the tax consequences of doing so. My understanding is, is that my contributions to the 401k were not taxed going ...
4
votes
2answers
104 views

Can I convert my traditional IRA to a Roth IRA in 2011?

Going forward, I'm putting all my retirement savings that goes above my employer 401k match into a Roth IRA. I have a traditional IRA that I opened many years ago and has sat untouched for quite a ...
4
votes
2answers
696 views

Can I roll my non-qualified variable annuity into a tradional IRA?

I have a variable annuity that I invested $80,000 into 10 years ago. Performance has been horrible and I'm down to $72,000. I am 38 and want to put into a traditional IRA. Are there tax consequences ...
5
votes
2answers
107 views

Can Roth conversion taxes be reduced by moving rollover IRA back to 401k?

I have two traditional IRAs: a rollover from a past 401k, with no basis (all pretax contributions) an IRA with only after-tax contributions, with high basis If I do a Roth conversion, as far as I ...
5
votes
1answer
608 views

Can excess 401K contributions returned with 1099-R be rolled over to a Traditional IRA?

I received a check in March 2011 along with a 2011 1099-R for excess 401K contribution made in Tax year 2010. I am a high-compensated employee, the excess was due to company 401k matching which was ...
4
votes
2answers
349 views

Rolled over husband's 401(k) to IRA after his death. Can I deduct a loss since?

When I rolled over my husband's 401(k) into an IRA after his death, the beginning balance was 100,000.00 and now the balance is around 10,000.00 If I sell the IRA, can I deduct the loss on my taxes?
7
votes
2answers
372 views

401(k) administration fees vs Rollover IRA fees?

I'm evaluating rolling over my old 401(k) into a self-administered IRA. I know the general costs and benefits (mostly benefits, in terms of increased flexibility, as stated here), but I'd like to see ...
2
votes
2answers
372 views

At retirement age, can I roll my IRA variable annuity into a bank IRA?

I have reached retirement age and have a variable annuity with Hartford. I would like to get out of the annuity and roll over into a bank account IRA. I have held the product for 12 years and there ...
3
votes
2answers
371 views

Is there a difference between conversion of a traditonal IRA to a Roth IRA vs opening a Roth and transferring the money from a traditional IRA?

Is converting a traditional IRA to a Roth IRA the same as opening a Roth IRA account and rolling over the money from the traditional IRA? Are they different in any way?
15
votes
3answers
508 views

Quit my job: What can/should I do with funds in previous employer's 401(k) plan?

I recently changed jobs, and my previous employer offered a 401k. I know I can roll that money into an IRA. Before I do anything, I would like to understand what options I have, and which option is ...
11
votes
3answers
3k views

Can I roll over a 401k with my current employer into an IRA?

My wife has a 401k with her employer that she has been contributing to for years. They recently switched administrators for the 401k, and the new outfit is simply terrible - bad fund choices and ...
9
votes
5answers
4k views

Combining 401k's from different past employers?

I have multiple 401k's from past employers. I know I can roll each of these over into new IRA accounts at my brokerage, but do the 401K rules allow me to combine these 401K's into one IRA account? ...