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IRS Tax Question: If I contribute money into my traditional
IRS Tax Question: If I contribute money into my traditional IRA in 2017, how long do I have to take it out? Is it October 2018? I already filed my tax return. Is there any penalty for leaving it in? W… read more
Lane
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Clients over contributed to Roth IRA accounts in 2016 and 2017. On the 2016 return no tax deferred benefits were given or credits taken. Documents received in 2017 indicate code j and p. My instinct i… read more
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In 2016 I had an excess contribution to my Roth IRA of 6500
In 2016 I had an excess contribution to my Roth IRA of 6500 and paid a penalty of 390- In 2017, I made no contribution to my Roth IRA Am I liable for a penalty in 2017?… read more
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TAX question: I need the answer to a very specific question about Roth IRAs. I am a tax preparer. I have a client who made a Roth IRA contribution in 2017 for 2016. It turns out, his income was too hi… read more
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If someone contributed to a ROTH IRA IN 2015 but was not
if someone contributed to a ROTH IRA IN 2015 but was not entitled to it as they filed MFS but did not withdraw the amount and the interest earned until 2017 how is this reported? They have to amend th… read more
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Is there a limit of 401K contribution per year for tax
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SEP IRA question: If I make a contribution to my SEP IRA in
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Lev
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My brother just learned that he has been making too much
My brother just learned that he has been making too much income to contribute to a Roth IRA. This has been going on for eight years. How does he correct this? Thank you … read more
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What can happen if I contribute too much to my IRA?
What happens if I contribute too much to my IRA in a tax year? Let's say the max I can contribute is $3,250, but I contribute $3,500 instead – is there a penalty? Does my IRA become fully taxable? I h… read more
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A taxpayer turns 70.5 years old on 8/24/2015. She is still
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emc011075
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I have asked a question yesterday and I have not got an
I have asked a question yesterday and I have not got an answer.A sole proprietor contributed to SEP in excess. He thought that he could have elective deferrals of 18000.00. Now he is told that he cann… read more
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To Roth IRA expert: A joint filer was NOT eligible to contribute to a Roth IRA in 2014 as modified adjusted gross income exceeded $191,000. Using Fidelity, my friend's spouse contributed $6,500 into R… read more
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A married couple who file jointly & both participate in 401k
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Team, I placed $1,000 in a Roth IRA. However, my AGI
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1. Made a contribution to Roth IRA in 2010 of $5000. Just
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I have contributed to a Roth IRA for the last three tax years.
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I have a client who is the 100% owner of an Scorp. He has earned
I have a client who is the 100% owner of an Scorp. He has earned income of 10k thru payroll from the company....In 2010 he made a 49k contribution to a sep..He obviously can not deduct all of this and… read more
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FIXING EXCESS ROTH IRA CONTRIBUTION I made contributions
FIXING EXCESS ROTH IRA CONTRIBUTION: I made contributions to an existing Roth IRA for 2009 and 2010 on March 20, 2010. I filed my 2009 Federal Taxes earlier, in February. There is nothing on my origin… read more
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