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I have an IRA with $255K in it. $240K are from old employer
Hi,I have an IRA with $255K in it. $240K are from old employer 401K's that I rolled over. The other $15K is after-tax non-deductible contributions that I put in with the intention of doing a backdoor … read more
Lev
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I recently changed my employer. Can I do mega roth 401K
Can I do mega backdoor roth 401K twice a year (once with each employer) … read more
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Roth related questions: 1. If I currently have a Rollover
Roth related questions:1. If I currently have a Rollover IRA from previous companies (pre-tax), in order to avoid the pro-rata rule would I need to first invest the funds from the Rollover IRA into my… read more
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Lev
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I did a IRA contribution in Jan 2019 for the 2018 tax year.
I did a backdoor IRA contribution in Jan 2019 for the 2018 tax year. I also converted a small traditional IRA conversion to a Roth IRA to avoid the pro-rata rule. I recognize I need to pay taxes on th… read more
Lane
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I did a Roth for myself and my wife 2 months ago... I had
hello. I did a backdoor Roth for myself and my wife 2 months ago... I had checked all the boxes then... had no other traditional IRAs (only other Roths elsewhere) and the residual trad IRA balance aft… read more
Dr. Fiona Chen
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In 2015 I left my job. At that time I had a Vanguard 401K
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Mark Anderson
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Explain to me how the back door IRA contribution works. By
Please explain to me how the back door IRA contribution works. By this i mean when you can contribute towards a nondeductible Traditional IRA and then convert it to a Roth IRA and somehow get a tax de… read more
PDtax
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1. I do a ROTH conversion every year. I have no other IRAs I
1. I do a backdoor ROTH conversion every year. I have no other IRAs I do a same-day conversion from brokerage-to-IRA-to-ROTH of exactly $6,500. There is $0 taxable since it is same-day and I have not … read more
Robin D.
Robin D.
Senior Tax Advisor 4
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both my husband and I have IRAsfrom companies no longer
Hi both my husband and I have IRAsfrom companies no longer in business -we are in the beginning stages of starting a real estate business and wondered if we could roll both into 1 solo 401k… read more
Lev
Lev
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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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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
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Own a small business which has a defined benefit and a 401k
Own a small business which has a defined benefit and a 401k plan. The defined benefit people say that my plan got overfunded last year due to market valuation. To the degree that company contribution … read more
Lane
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JD, MBA, CFP, CRPS
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i have a 401 k account from my previous employer years ago
i have a 401 k account from my previous employer years ago in a bank. now i have another 401 k account with my next employer in another bank. and with the second bank, i also have a roth ira account. … read more
ShawnA
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Hi. I have a Traditional IRA with just a few thousand dollars
Hi. I have a Traditional IRA with just a few thousand dollars in it, which I established with tax-deductible (pre-tax) money years ago before I had a 401k. Today, I am above the ~$180K income limit an… read more
jgordosea
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Worried my accountant did my taxes wrong.I think my accountant
Worried my accountant did my taxes wrong.I think my accountant may have made a mistake when not reporting my and my husband's IRA conversions on our 2012 taxes.In 2011, I contributed as much as possib… read more
olwagner
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As a self-employed individual who gets paid in 1099s as well
As a self-employed individual who gets paid in 1099s as well as W2s, I'm trying to figure out what retirement plans are best for me when some years I get a lot of 1099 income and some years not much a… read more
Lane
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JD, MBA, CFP, CRPS
Doctoral Degree
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My MAGI for 2012 was $141K (married filing jointly). Im an
My MAGI for 2012 was $141K (married filing jointly). I'm an idiot with finances, requiring both Quicken and Turbotax to make any sense of it. In 2012, I rolled over 32K from a previous job to an exist… read more
R. Klein, EA
R. Klein, EA
Tax Advisor
Master's Degree
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Due to income limit, I have a nondeductible Traditional IRA
Due to income limit, I have a nondeductible Traditional IRA in a vanguard mutual fund ($5000 contributed for 2011 and $5000 contributed for 2012). I have no deductible Traditional IRAs. I also have a … read more
gregmey
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