Posts Tagged ‘finance’
Irs Rules Ira Rollover
February 6th, 2009
401k Rollover Advice Avoiding The 20% IRS Penalty by Bill Losey, CFP.mp4
Roth Ira Withdrawal
October 11th, 2008
Question: Non-deductible contributions to a regular IRA, do I pay taxes on them again upon withdrawal?
My income doesn’t allow me to contribute to a Roth IRA nor make deductible contributions to a regular IRA. So after funding my 401K I also make a contribution to my regular IRA. When I withdrawal from that in future years, do I have to again pay taxes on my original contributions?
Answer: No, but make sure you keep good records so you can tell which money is which if you mix them. I would keep them in their own account.
In 2010 they can be converted to a ROTH no matter what your income. Read publication 590 for the details at IRS.GOV.
Roth IRAs
Roth Ira Conversion Tax Rules
June 3rd, 2008
Posted in IRA Tax Rules | 
Tags: conversion, finance, ira, retirement, roth, roth ira conversion tax rules | 
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