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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
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Bachelor's Degree Equivalent
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I am the sole shareholder of an s-corp, which contributed
I am the sole shareholder of an s-corp, which contributed 25% of my annual salary to my Sep Ira. Can I open and contribute the maximum to a traditional IRA as well?… read more
emc011075
emc011075
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I inherited a traditional IRA and am I high income
I inherited a traditional IRA and am I high income professional. Do I need to convert this to something else since I earn above the limit for a traditional IRA?… read more
Lev
Lev
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Bachelor's Degree Equivalent
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I need to know how much I can contribute to a roth or
I need to know how much I can contribute to a roth or traditional IRA for 2017. I am single and gross income is about $140,000. I also have contributed about $7,800 to my 401k plan… read more
Lev
Lev
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Bachelor's Degree Equivalent
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My wife is converting money from an ESOP from a former
My wife is converting money from an ESOP from a former employer to a Roth IRA? We have not completed the rollover yet but need to determine how much money to put into the Roth IRA and how much to pay … read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
2,919 satisfied customers
I had $1900 of total base in my traditional IRA when the
I had $1900 of total base in my traditional IRA when the value of all my traditional, SEP and SIMPLE IRAs was $47k at end of 2015. During 2016, I converted all the traditional IRAs to my Roth IRA when… read more
Lev
Lev
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Bachelor's Degree Equivalent
27,906 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
27,906 satisfied customers
hello. Im an independent contractor on 1099 since aug 2014. From
hello. Im an independent contractor on 1099 since aug 2014. From January to July 2014 I was under W2 . During January 2014 I had opened a back door IRA (from my personal account converted a traditiona… read more
Anne
Anne
Master Tax Preparer
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I took a distribution from a traditional IRA in 2013 and then
I took a distribution from a traditional IRA in 2013 and then converted that amount to a Roth. Do I have a "basis" in the Roth conversion, and if so, do I enter zero or the full amount that I converte… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,906 satisfied customers
Self-Employed retirement plan and contribution question. I
Self-Employed retirement plan and contribution question. I learned that for SEP, company can contribute 25% of employee salary or $51K(for 2014) whichever is more restrictive. but for self-employed, I… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,906 satisfied customers
Hi,Can you explain how different income sources are taxed?
Hi, Can you explain how different income sources are taxed? For example, if I have $150K in dividend income and additional K1 income, what tax rate table is applicable for the K1 business income? I kn… read more
R. Klein, EA
R. Klein, EA
Tax Advisor
Master's Degree
3,104 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
27,906 satisfied customers
Ive heard about that from 2010 you can switch from traditional
I've heard about that from 2010 you can switch from traditional IRA to Roth IRA no matter what the income level is. Was it only in calender year 2010 or is it the case going forward? I have several mu… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,906 satisfied customers
My wife and i make about $150k combined, which allows us to
My wife and i make about $150k combined, which allows us to contribute to our Roth IRAs. I am thinking of rolling over my $50k IRA into a Roth this year which will bump up my taxable income to around … read more
RD
RD
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Master's Degree
1,164 satisfied customers
I have a 401k, including a traditional (about $150k) and roth
I have a 401k, including a traditional (about $150k) and roth section(about $50k), from the previous employer. The assets are reported as a lump sum to me by the management company, but they says they… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,906 satisfied customers
Can i open a Traditional IRA today (reducing taxes) and then
Can i open a Traditional IRA today (reducing taxes) and then convert it to Roth IRA later this year?… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,906 satisfied customers
My income is low this year(2009) and I am considering pulling
My income is low this year(2009) and I am considering pulling $40,000 from my Traditional IRA paying the tax on it and put all into a Roth IRA. Do the tax rules allow? JIm… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,906 satisfied customers
keep getting cut off everytime i hit the return button... i
keep getting cut off everytime i hit the return button... i started my own business - a chowder house as a sub s corporttion. Have had losses of about $50000 in both 2007 and 2008 without having any o… read more
RD
RD
Self Employed
Master's Degree
1,164 satisfied customers
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