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4

Stop. Do you have any traditional IRA money? If you do not: Use the Roth Backdoor. Put it in the Traditional, non-deductible IRA anyway. Invest it in cash only; you don't want any gains or losses. And then, the very next day, go back and convert to Roth. This "backdoor" was enabled by legislation some 15? years ago, when income limits for Roth ...


1

Roth, IRA, and 401K are not investments, but are account types that receive special tax considerations. The tone of your question suggests that you do not understand this distinction. There is nothing stopping you from opening up a brokerage account, and investing in the same mutual fund, ETFs, or individual stocks that may be part of your 401K or Roth. ...


8

First off, make sure you are using your modified adjusted gross income (MAGI) as calculated by https://www.irs.gov/publications/p590a#en_US_2018_publink100025076. For example, 401(k) contributions and health insurance premiums paid through your employer are not counted. It's possible you are still eligible to make a full or partial Roth IRA contribution. ...


2

As you say, it depends. Do you want to be an active investor, buying individual stocks (or real estate &c), or do you just want to put the money someplace and forget about it? Since I'm in the second group, my own answer (starting some decades ago) was just to put the money in a few mutual funds and basically forget about it.


1

The issue could be at the old broker or the new broker. Either the new broker cashed the same check twice, or the old broker sent the transaction twice. You should contact both to determine the issue. When some people do a rollover they have the check go though them, others have the check sent directly between the brokers, in other cases it is electronic ...


5

Contact brokerage B's support. They'll fix it and there'll be no legal or tax implications, unless you do something dumb like cash it out before they notice.


6

The details of your questions are confusing. In 2019 there is a $19,000 employee contribution limit for 401k plans. That amount can be split between either traditional or Roth 401k. An employer's matching contribution does not count toward that limit. Separately, there is a $6000 limit for IRAs, which can also be split between traditional and Roth. If you ...


4

The website you found is perfectly right. A bonus deposited into an IRA by Merrill Lynch (paid in this instance as an inducement to transfer an existing IRA with different custodian to Merrill Lynch) is just an additional gain in the IRA investments. The bonus has no current tax consequences; it need not be reported to the IRS either by you or by the IRA ...


2

The Mega Backdoor Roth IRA is achieved by contributing additional after-tax money to a 401(k), and then rolling those contributions into a Roth IRA. Roth IRAs normally have an annual contribution limit of $6,000. Using a fully optimized Mega Backdoor Roth IRA allows ~$30,000+ of additional annual contributions to the Roth IRA. Contributions Limits 401(k) ...


1

Yes, you're able to have both. See this explanation for example. Finally, if you have a 401(k) through an employer and have a SEP IRA for your self-employment income, each contribution is treated separately. You can defer up to $18,000 of your salary into your 401(k) and your total contribution is limited to $53,000 ($59,000 if over 50) after your ...


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