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When Opening an SEP IRA is it possible to put stock in it?
When Opening an SEP IRA is it possible to put stock in it? Can I transfer stock from my SEP to an IRA or Roth IRA? Does the account have to be started with cash? I put too much in my SEP so I have to … read more
Lev
Lev
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Bachelor's Degree Equivalent
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I have a question about re characterization and conversion
I have a question about re characterization and conversion between Roth and Traditional IRA. … read more
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NEED YOUR HELP FOR THE CALCULATION OF THE EARNINGS OF EXCESS
NEED YOUR HELP FOR THE CALCULATION OF THE EARNINGS OF EXCESS I wonder if any tax professional could help me on this. I made an excess contribution on 4/8/2016 with the amount of $50000, and made anoth… read more
ABC Accounting Group
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I have a couple clients that are interested to contribute to
I have a young couple clients that are interested to contribute to traditional IRA for the year 2017. In the earlier part of the year, one of the couples was participating in the employer retirement p… read more
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Lev
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Bachelor's Degree Equivalent
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I sold stock from an espp and immediately put it into a
i sold stock from an espp and immediately put it into a traditional ira account, do i have to claim that in my taxes … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
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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
Master's Degree
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My granddaughter just graduated from College and began her
My granddaughter just graduated from College and began her job this year (2018). She worked a little and made a few thousand dollars last year but is still claimed as a dependent on her parents 2017 t… read more
Robin D.
Robin D.
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Vocational, Technical or Trade School
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I executive a back door roth. I made non-deductible IRA
I executive a back door roth. I made non-deductible IRA contribution, which was then converted to a roth. I received a 1099R for the money converted. Turbo Tax is counting the distribution from non-de… read more
Charles Markham
Charles Markham
Principal
Masters Science Taxation
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I have a client that between the wife and husband make over
I have a client that between the wife and husband make over $300,000/yr gross. They each contribute to a 401K at their respective jobs but have no other IRA's. I have heard they can each contribute up… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
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Our 2016 MAGI was $208k. I am 58 years old, filing jointly
Our 2016 MAGI was $208k. I am 58 years old, filing jointly with my wife (teacher, age 56) My 2016 W2 (box 12 D) showed that I contributed to 401(k) $15,620. My employer matches 5% of my compensation (… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,301 satisfied customers
Recharacterize Roth ira question. Until 2013 I was doing
Recharacterize Roth ira question. Until 2013 I was doing Roth IRA contributions. For tax year 2014 I have opened SEP IRA as I was on 1099. For tax year 2015 I opened non-deductible traditional IRA in … read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,301 satisfied customers
Can I ask a detailed question? My wife and I both began
Can I ask a detailed question? My wife and I both began saving with IRAs this year (February 2017). We both opened Vanguard accounts and I put in $6500 and she put in $5500 and we started with Traditi… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
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My income limit prevented contributing directly to Roth IRA
My income limit prevented contributing directly to Roth IRA as I've always done. Maximized ($5500) non-deductible contribution to traditional IRA and completed backdoor Roth conversion before the end … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
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In 2014 I contributed the max $5500 to a Roth IRA thinking
In 2014 I contributed the max $5500 to a Roth IRA thinking I would make less than $100k year. It turns out I made $130k which disqualifies me IRA. Turbotax is advising me to take a distribution of the… read more
Robin D.
Robin D.
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Vocational, Technical or Trade School
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Hi, I have a question regarding IRAs. I opened an IRA Traditional
Hi, I have a question regarding IRAs. I opened an IRA Traditional account earlier this year contributing $11,000, $5500 for 2013 and $5500 for 2014. When I opened the account, I opened it up as a Trad… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
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probably a straightforward question but let me ask to make
probably a straightforward question but let me ask to make sure. I have a 401 K and a Roth IRA with a certain bank. 401K is from my previous employer. I have another 401k with another bank, from anoth… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,606 satisfied customers
In a very low income tax bracket (~$25,000), does it provide
In a very low income tax bracket (~$25,000), does it provide a tax advantage to open a RothIRA? or a Traditional IRA? what would be the best way to lower taxes even further?… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,606 satisfied customers
At my current employer I contribute 10% of my salary into their
At my current employer I contribute 10% of my salary into their 403b plan. My employer matches up to 2%. However, the administrator of the 403b charges a lot of administrative fees: 1.2% and then the … read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,301 satisfied customers
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