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I withdrew money from my roth ira last year. I was 64 then.
I withdrew money from my roth ira last year. I was 64 then. Do I need to file IRS form 8606 "Nondeductible IRAs"? What is a nondeductible contribution? … read more
DK_CPA
DK_CPA
CPA
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My question pertain to how to complete your taxes to show
My question pertain to how to complete your taxes to show contribution to a non-deductible IRA and then convert to Roth IRA. My spouse does not work and I want to take advantage of the non-spousal IRA… read more
Lev
Lev
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Help filling out Turbo Tax when I have back door roth ira.
help filling out Turbo Tax when I have back door roth ira … read more
Lane
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We made a IRA contribution of $5,500 to my husband's account
We made a IRA contribution of $5,500 to my husband's account (Vanguard) in Jan 2018 for tax year 2017. We then electronically filed our joint tax return Feb, 2018. However, we forgot to include the $5… read more
emc011075
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After owning a Roth IRA for more than 5 years, do the
After owning a Roth IRA for more than 5 years, do the earnings, which are not taxable, get added to the basis?… read more
Robin D.
Robin D.
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I accidentally contributed to traditional IRA in addition to
I accidentally contributed to traditional IRA in addition to maxing out 401k. The amount that I contributed to traditional IRA was taxed. What can I do fix this so I don't get taxed when I withdraw mo… read more
Arthur Rubin
Arthur Rubin
Doctoral Degree
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I received a 1099-R for a IRA conversion, where I made a non
I received a 1099-R for a backdoor IRA conversion, where I made a non deductible contribution to a traditional IRA and converted it to a Roth IRA. The code says 2 on the 1099-R, would the conversion b… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
4,274 satisfied customers
I have a 1099R for a friend that I am helping with her
I have a 1099R for a friend that I am helping with her taxes. The Box 7 Code is J. The box 1 amount is 14,800. She rolled over 10,000 to her IRA in 2014 and contributed 4,000 in 2015 then 1,300 in 201… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
4,274 satisfied customers
How to report tax on 401k converted to Roth IRA - My
How to report tax on 401k converted to Roth IRA - My husband, who is retired and older than 59 1/2, converted a portion of his 401k directly to a Roth IRA (without first going to traditional IRA). He … read more
Lev
Lev
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A client made Roth contributions of $5,500 in 2013 and 2014,
A client made Roth contributions of $5,500 in 2013 and 2014, not realizing that his income exceeded the Roth threshold in both years. In May of this year, he learned of his error, withdrew the $11,000… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
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I'm trying to figure out my taxes and I have a fairly
I'm trying to figure out my taxes and I have a fairly confusing (perhaps unusual) circumstance: While trying to pay taxes last year (April of 2014), I realized that I had made a contribution to my Rot… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
4,274 satisfied customers
Nondeductible Contribution to traditional IRA and conversion
Nondeductible Contribution to traditional IRA and conversion to Roth. Our income is too high for Roth contribution so we contribute to traditional IRA (fully nondeductible) and then convert to Roth. W… read more
Lev
Lev
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I need help with how to claim the Roth IRA distribution I took
I need help with how to claim the Roth IRA distribution I took last year. I took this distribution prior to age 59 1/2. I am to understand that I can take this withdraw without any penalty or tax as i… read more
Lev
Lev
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Bachelor's Degree Equivalent
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I made a Roth contribution as a non-deductible IRA tax expense
I made a Roth contribution as a non-deductible IRA tax expense because of salary limit and having trouble preparing form 8606 , which has line item for Traditional IRA but not Roth contribution. Is th… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
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My question is regarding Tax Form 8606. In 2010, I borrowed
My question is regarding Tax Form 8606. In 2010, I borrowed money from a qualified 401K employer-sponsored plan. I paid federal and state taxes plus the additional 10% for early withdrawal. The remain… read more
Lev
Lev
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Bachelor's Degree Equivalent
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I have a question about IRA to Roth IRA conversion. The IRA
I have a question about IRA to Roth IRA conversion. The IRA now is a mixed account...partially a taxed rollover from a previous job and part non taxed contribution. I know I need to pay taxes on some.… read more
Merlo
Merlo
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I took a $5000 deduction on my 2008 return for an IRA. I had
I took a $5000 deduction on my 2008 return for an IRA. I had already paid taxes on that $5000, so when I realized what I had done, I filed a 1040x and a form 8880 and 8606 and wrote a check to the IRS… read more
Bill
Bill
Master's Degree
3,157 satisfied customers
I make over $165,000 so I cannot contribut to a Roth.
I make over $165,000 so I cannot contribut to a Roth. Traditional does not seem to add any benifit since there is no income limit for contributions to be made but if I make more than $165,000, it is n… read more
Bill
Bill
Master's Degree
3,157 satisfied customers
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