Tagged Questions

3
votes
1answer
58 views

Roth or Traditional IRA if getting a dramatic increase in income this year?

So I just learned that it's not too late to fund an IRA for 2012. With a week left and never having done this before, I now get to decide which type I want to open. Based on my (really vague) ...
4
votes
1answer
41 views

Can a loss in one Roth IRA make up for a gain in another when trying to withdraw early penalty-free?

I have a Roth IRA account with $9,500 current value ($500 less than I invested in it). My wife has a Roth IRA account with $5,500 current value ($500 more than she invested in it). We pay our taxes ...
0
votes
1answer
181 views

Does the cost basis increase by reinvestment of investment income in Roth IRA?

In regular brokerage account, the cost basis increases by reinvestment of investment income. I guess it is the same case in Roth IRA? I am not sure, because I don't know if there is some rule that ...
-2
votes
2answers
152 views

Emptying a Roth IRA account

If I withdraw money from my single Roth IRA account to make it empty, will the account be closed? Is there any expense to open a new Roth IRA account? If my purpose of emptying my Roth IRA account is ...
3
votes
2answers
758 views

Can capital loss in traditional IRA and Roth IRA be used to offset taxable income?

For traditional IRA and Roth IRA, can capital loss be used to offset taxable income for tax purpose? If not, when withdrawing from traditional IRA and Roth IRA, can the capital loss now be used to ...
5
votes
1answer
99 views

Roth IRA Contributions and MAGI Limits

Want to contribute to my Roth IRA for 2011. I know my salary won't exceed the Modified Adjusted Gross Income limit, but I'm worried that future investment gains might make my MAGI go past the ...
7
votes
1answer
160 views

Convert Traditional IRA to Roth IRA when income limits are not satisfied by Roth IRA?

Our household MAGI (Modified Adjusted Gross Income) does not allow us to contribute the full amount to a Roth IRA for 2010. In that case is converting some part of Traditional IRA to Roth to complete ...
5
votes
2answers
136 views

How to calculate taxes owed on conversion from Traditional to Roth IRA in 2010?

How do I calculate the taxes owed on a conversion from a Traditional IRA to a Roth IRA in 2010?