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I am trying to move about $125k from a traditional IRA that
I am trying to move about $125k from a traditional IRA that is 100% deductible/post tax to a 401k. The plan was to then make a $5,500 non-deductible (after tax) contribution to a Traditional IRA, and … read more
taxmanrog
taxmanrog
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Here goes... I have 2 sub accounts with Vanguard that are a
here goes... I have 2 sub accounts with Vanguard that are a mix of 401K rollovers (pre and post tax contributions) and IRA (post tax contributions that were declared as deductions on my annual income … read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
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I have an ira populated over the years with after-tax
i have an ira populated over the years with after-tax income. Now that I am forced to withdraw some prematurely (age 57) the IRS wants to treat it all as taxable income. Am I not being taxed twice?… read more
Lane
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JD, MBA, CFP, CRPS
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I asked a question regarding how much tax I would pay on a
I asked a question regarding how much tax I would pay on a withdrawal from my 401 AFTER TAX portion. You answered. Would there be any difference in the tax amount if I made the withdrawal from the pre… read more
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A taxpayer contributes 90,000 of pre tax dollars into a
A taxpayer contributes 90,000 of pre tax dollars into a Traditional IRA. As of 12/31/2013, the balance in this IRA is 100,000. In December of 2014, the taxpayer contributes 5,000 of after tax dollars … read more
Robin D.
Robin D.
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Vocational, Technical or Trade School
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I funded with post tax money an IRA in 2008. Subsequent to
I funded with post tax money an IRA in 2008. Subsequent to that in 2009, I transferred my 401K (pre tax money) money to that same IRA. In each 2009, 2010, 2011, 2012 and 2013, I funded that IRA with p… read more
Megan C
Megan C
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I am 63 years old and contributed 6500.00 to my traditional
I am 63 years old and contributed 6500.00 to my traditional IRA. I have already paid taxes on this money. The rest of my money in the IRA is pre-tax contributions. Should I do a non deductible contrib… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
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Hi. I have a Traditional IRA with just a few thousand dollars
Hi. I have a Traditional IRA with just a few thousand dollars in it, which I established with tax-deductible (pre-tax) money years ago before I had a 401k. Today, I am above the ~$180K income limit an… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
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I was contributing on my IRA with $250 per month withdraw from
I was contributing on my IRA with $250 per month withdraw from my bank. With some financial hardship i withdraw $7,000. Now the IRS and the State are taxing me again on the money when i already paid t… read more
Anne
Anne
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I want to know the tax treatment for converting 1. Traditionl
I want to know the tax treatment for converting: 1. Traditionl IRA with non-deductible and deductible contribution 2. Rollover IRA established in 2007 from After Tax Contribution of 401 K with in serv… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
This question concerns rolling over money from a 401K to a
This question concerns rolling over money from a 401K to a regular IRA and a Roth IRA where the 401K has after tax money with considerable associated earnings. The 401K has $35,000 in pre-1987 after t… read more
Bill
Bill
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What is the tax law concerning IRA accounts. Do I contribute
What is the tax law concerning IRA accounts. Do I contribute pre tax dollars to an IRA? Can I withdrawal money for medical expenses tax free? I am interested in opening a HSA account with my employer … read more
Merlo
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What is the tax law concerning IRA accounts. Do I contribute
What is the tax law concerning IRA accounts. Do I contribute pre tax dollars to an IRA? Can I withdrawal money for medical expenses tax free? I am interested in opening a HSA account with my employer … read more
Merlo
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I have before-tax and after-tax dollars in a 401-k. I am allowed
I have before-tax and after-tax dollars in a 401-k. I am allowed to make in-service withdrawals and I am 60 years old.....can I roll just the after-tax dollars ( and their corresponding taxable gains … read more
Wendy Reed
Wendy Reed
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Master's Degree
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Hi, I have a Tradition IRA that I wish to convert into a
Hi, I have a Tradition IRA that I wish to convert into a Roth IRA. I understand that the conversion is subject to tax withholding on pre-tax contributions in the Traditional IRA. The problem comes in … read more
Merlo
Merlo
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For an annual after tax IRA contribution (exceed income limit
For an annual after tax IRA contribution (exceed income limit for deduction), I typically do not record in my tax filing. For a conversion to Roth IRA, how do I prove that this money has already been … read more
Merlo
Merlo
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Is there an annual taxable income amount that when reached
Is there an annual taxable income amount that when reached by an individual and or married couple that prevents them from contributing to an IRA?… read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
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I am a widow with a good size retirement account. My ...
I am a widow with a good size retirement account. My question is, is there a specifies amount you may withdrawl from this account before you have to pay taxes on it?… read more
Bill
Bill
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