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Results tagged with ira
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user 32141
In the United States, an IRA is an Individual Retirement Arrangement, a tax-deferred retirement account.
7
votes
Withdrawing $10,000 from two IRA accounts for first time home buyer expenses
Its 10k per Tax ID aka Social Security Number
You can take the 10k from the Traditional IRA and avoid the penalty for first time home purchase but still have to pay income tax. …
- 285
1
vote
Is a Roth IRA preferable to a Traditional IRA?
One thing people are missing is that you may not be eligible to contribute to a Roth IRA based on your MAGI. There are income "phaseout" ranges which determine how much, if it all you can contribute. …
- 285
0
votes
Rollover IRA vs traditional IRA (can I make contributions to the rollover IRA?)
Rollover IRA is a "marketing term" created by the financial industry. A rollover Ira is a traditional ira. The tax treatment is what matters. … You can "rollover" funds from a 401k into a traditional ira or rollover ira, it makes no difference. …
- 285