The tag has no wiki summary.

learn more… | top users | synonyms

5
votes
1answer
152 views

Should I convert from IRA to a Roth IRA based on an online calculator?

Several online conversion calculators pretty much give me the same or similar results if before and after retirement tax brackets are the same i.e. 25%. If my tax bracket drops to 15% after retirement ...
0
votes
1answer
33 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 ...
1
vote
1answer
33 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 ...
1
vote
0answers
43 views

Undo IRA conversion to an existing Roth IRA?

I have two retirement accounts at the same brokerage. One is a traditional IRA that was rolled over from a past company 401k plan, the second is a Roth IRA that I contribute to with taxable income. I ...
1
vote
2answers
38 views

Is this the right tax statement for Roth IRA back conversion?

I moved $5500 from traditional IRA to Roth IRA in January 2014 for tax year 2013 . Then I moved another $5500 from traditional to Roth IRA for tax year 2014 in March 2014. When depositing fund in IRA, ...
2
votes
2answers
88 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 ...
2
votes
2answers
166 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
1answer
57 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 ...
2
votes
3answers
269 views

Limitations of the 401(k) to Roth IRA conversion escape hatch

I'm currently planning on retiring before the 59 1/2 year old milestone where 401k's and IRA's become accessible penalty free. One workaround I've heard of to access your retirement funds early is to ...
0
votes
0answers
39 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 ...
1
vote
1answer
384 views

Are Roth IRA withdrawals within the same year as contributions tax free?

A couple of months ago, in this calendar year, I contributed $1,500 to my Roth IRA. I didn't invest it, so it still is worth only $1,500. I now need $1000 back, and so started to fill out a ...
-2
votes
1answer
440 views

Roth conversion: US tax brackets for Non-resident Aliens (residing in India)

Question 1: If I move money from a traditional to roth IRA (or pretax 401k to roth) account, what are the US tax brackets? Are there any standard deductions? Will I have to pay any taxes in India for ...
2
votes
1answer
505 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
109 views

Do I include a spouse's Traditional IRA when converting my non-deductible Traditional IRA into a Roth IRA?

I have a Traditional IRA funded with non-deductible funds (in addition to a Roth IRA) and my spouse has a Traditional IRA funded 100% with deductible funds. I'm interested in converting 100% of my ...
0
votes
1answer
61 views

What is the “Taxable portion of a conversion” in a roth IRA?

From here, under "Treatment of Distributions". In particular, let's assume I have some funds in Traditional and Roth 401(k) and IRAs. Now, let's take a year when I make no income and I decide to ...
6
votes
2answers
950 views

The five-year rule and backdoor Roth IRA conversions with non-deductible contributions

I have a Roth IRA that was opened and initially funded more than five years ago. Now that I'm earning too much money to make regular contributions, I'd like to further fund this account through a ...
3
votes
1answer
609 views

Does converting IRA to Roth count toward contribution limit?

I have a small balance in a traditional IRA (as a result of company-match to Roth 401K contribution) and also a Roth IRA which is fully funded for the year. Can I pay the tax and convert my ...
5
votes
3answers
228 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 ...
5
votes
2answers
416 views

What are the disadvantages of a backdoor versus conventional Roth IRA contribution?

My income is close to the Roth IRA limit. I like to do my IRA contributions early in the year, before I know exactly how much I will make due to bonuses and such. So I am thinking about doing a ...
2
votes
1answer
109 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 ...
2
votes
1answer
333 views

Need help with completing a backdoor Roth IRA conversion

I am in need of some advice regarding IRA's, IRS income limits, IRA conversions, etc. Here's the points pertinent to my situation: My wife and I got married this year and will be filing 2012 tax ...
2
votes
1answer
122 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
2answers
115 views

How to allocate Roth conversion income across states when moved during year?

In 2010, I converted a traditional IRA to a Roth IRA while a California resident and elected to take the income half in 2011 and half in 2012. During 2011, I moved to North Carolina in the middle of ...
1
vote
3answers
119 views

Restrictions or impact on Roth IRA when reaching MAGI threshold?

If I started a Roth IRA in 2011, but start contributing to a Roth 401k and reach the MAGI threshold for additional contributions in 2012 to my Roth IRA, will I eventually be able to move my 401k Roth ...
2
votes
2answers
323 views

How do I recharacterize Traditional IRA contribution to Roth that was converted to Roth?

What forms do I fill out for my broker to recharacterize my 2010 Traditional IRA contribution that was in my traditional IRA that I completely converted to a Roth IRA in 2010 right after the above ...
5
votes
1answer
147 views

Avoiding ammending taxes for forthcoming 1099-R for 2011 when filing 2010 for IRA

I over contributed to my traditional IRA last year. This was then converted along with all my traditional IRAs into Roth IRAs in 2010. Then in 2011, I recharacterized the excess and earnings from Roth ...
2
votes
1answer
337 views

What do I do with excess contribution to traditional IRA that was converted to a Roth IRA?

I accidentally over contributed $25 to my traditional IRA last year giving a total non-deductible contribution of $5025. This was then converted along with all my traditional IRAs into Roth IRAs in ...