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I would like to find out if it would make sense or me to
I would like to find out if it would make sense or me to convert all or part of my IRA accounts into a Roth IRA account. I am 60 years old and am currently working. … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,494 satisfied customers
I will turn 70 years of age next year. I have two IRA's from
I will turn 70 years of age next year. I have two IRA's from which I have not drawn down anything. Neither are Roth IRA's. I also have a brokerage account. How do I figure how much I must draw out of … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
I'm 75 and subject to annual RMD's from my traditional IRA.
I'm 75 and subject to annual RMD's from my traditional IRA. In looking a way to shelter the RMD amount if I were to reinvest it, I stumbled on the virtually unlimited IRA to Roth Conversion. My questi… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
6,058 satisfied customers
What is the best way (cheapest in tax or penalties) to
What is the best way (cheapest in tax or penalties) to convert my 401K traditional money to a Roth 401k (and self directed)? I am 46 and I have 40k to convert. My tax bracket is going to increase in f… read more
James Daloisio
James Daloisio
Attorney
Doctoral Degree
2,310 satisfied customers
I have an IRA with about $1.3 million. I turn 70.5 in
I have an IRA with about $1.3 million. I turn 70.5 in August. I anticipate taking huge RMD's with corresponding tax consequences. My wife and I at retired. Our annual income is around $240/yr, Should … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
Second opinion] I have an IRA with about $1.3 million. I
Second opinion] I have an IRA with about $1.3 million. I turn 70.5 in August. I anticipate taking huge RMD's with corresponding tax consequences. My wife and I at retired. Our annual income is around … read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
6,058 satisfied customers
After reaching 70 1/2 can people keep contributing to ROTH
after reaching 70 1/2 can people keep contributing to ROTH IRA? Car RMD be rolled over ROTH IRA and pay taxes on int?… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
I was 70 1/2 years old in August 2015. I am still working.
I was 70 1/2 years old in August 2015. I am still working. Every year I make the maximum contribution to an IRA. I hear that I need to start taking distributions soon. When do I need to do that? What … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
My sons, 9 yrs old and 8 years old inherited traditional ira
my sons, 9 yrs old and 8 years old inherited traditional ira and roth ira from my ex deceased husband in March of 2015. I was named the custodian of the accounts. I transferred the accounts into roth … read more
socrateaser
socrateaser
43,154 satisfied customers
I have already tax paid (post tax) contributions to
I have already tax paid (post tax) contributions to traditional IRAs. When taking a distribution, I'm supposed to add together all my IRAs for the total value on Dec 31 of the previous year. Q: Do I a… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,494 satisfied customers
What is the maximum amount of income I can make when over
What is the maximum amount of income I can make when over age 70 to still make a Individual IRA contribution, and after setting up and IRA, how long until it can be converted to a ROT?… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
i turned 70 in may of 2014 and have just retired dec 1st....thinking
i turned 70 in may of 2014 and have just retired dec 1st....thinking of rolling over my 401k $160,000 ..not sure what to do....would like to keep out of stock market but still have the tax deferred of… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,494 satisfied customers
I was 70 1/2 In 2012. I RETIRED MARCH 31, 2013 WITH A 401K.
I was 70 1/2 In 2012. I RETIRED MARCH 31, 2013 WITH A 401K. MY 401k BECAME AN IRA SHORTLY THEREAFTER. I THEN ROLLED OVER THE NEW IRA TO VANGUARD BUT WAS ISSUED THE RMD FOR 2012 BY ING WHICH GOT MY 401… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,992 satisfied customers
tax question when i turn 70 in 1 1/2 its my understanding
tax question when i turn 70 in 1 1/2 its my understanding i have to take some payment from my 401 and roth ira. how much do i have to take each year . i have about 300K/yr income from other investment… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,494 satisfied customers
I am 64 years old. I am retired and have current taxable income
I am 64 years old. I am retired and have current taxable income of about $68,000 per year. I have a total of $203,000 in 6 separate Traditional IRA CD's; the CD's have maturity dates over the next 3 y… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,494 satisfied customers
i will turn 73 in 2011-i made my rmd tax payment for 2010-
i will turn 73 in 2011-i made my rmd tax payment for 2010- if i am still working and have a company 401k am i required to continue making rmd payments?… read more
CGCPA
CGCPA
Owner
Bachelor's Degree
3,360 satisfied customers
i turned 71 last month and have not taken any distributions.
i turned 71 last month and have not taken any distributions. can i convert my regular ira account to a roth ira account, since i have other funds to draw upon and would like to pass a roth ira on to m… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,494 satisfied customers
I have a 401(k) plan with before tax and after tax ...
I have a 401(k) plan with before tax and after tax accounts. Total is say $200,000 and Cost basis (my after tax contributions without earnings) is $40,000. I am 62. I only want to take Required Minimu… read more
Bill
Bill
Master's Degree
2,074 satisfied customers
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