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Hypothetically, if a single taxpayer will be reporting a
Hypothetically, if a single taxpayer will be reporting a 2019 adjusted gross income of $165,000 because the individual (filing as a single person) is required to take 26.5% of their 401K and IRA accou… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
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My RMD starts next year. I was thinking of taking a greater
My RMD starts next year. I was thinking of taking a greater distribution and making it a ROTH. Can i do that without selling my equities? And what tax could i expect if i took 100k, 250k, 500k. … read more
Lane
Lane
JD, MBA, CFP, CRPS
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I will turn 70 years old in November. I have had a Roth IRA
second opinion] I will turn 70 years old in November. I have had a Roth IRA for over 10 years and I also have a Traditional IRA. I have been converting the Traditional Account to Roth as part of my Es… read more
Lev
Lev
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Bachelor's Degree Equivalent
34,083 satisfied customers
I moved money from a IRA into a Roth Account in April 2018.
I moved money from a IRA into a Roth Account in April 2018. My investment company did a RMD seemingly to create a tax withholding that would cover the tax due on the Roth as well as the RMD. When I qu… read more
Bill
Bill
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In order for a client (over 50), to contribute to a Roth IRA
In order for a client (over 50), to contribute to a Roth IRA $7,000 for 2019 must either have earned income or do a Trad Conversion. However, my client is 70.5 does not have earned income, but has a T… read more
PDtax
PDtax
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Master's Degree
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I have 3 investment accounts. One roth ira and two regular
I have 3 investment accounts. One roth ira and two regular accounts with UCO stock. … read more
Lev
Lev
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Can I convert IRA funds to Roth IRA after I've started
Can I convert IRA funds to Roth IRA after I've started taking RMD? … read more
Lev
Lev
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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'm retired, age 67 now. I know that RMD from IRA is
I'm retired, age 67 now. I know that RMD from IRA is required when I turn 70 1/2, but I have already started to take distributions to cover living expenses on purchase of a new home.. Is there a way t… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
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This is a question regarding IRA and a Roth IRA. Can I
This is a question regarding IRA and a Roth IRA. Can I transfer my IRA to a Roth IRA. How does that work and tax consequences please.… read more
Barbara
Barbara
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I am married; 66; retired from work 2 years ago; $450000 in
I am married; 66; retired from work 2 years ago; $450000 in savings ($350000 in 401k Rollover IRA, $50000 in Roth IRAs and $50000 cash). I want to take advantage of the current 12% Tax bracket. At thi… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
34,083 satisfied customers
I am 61 my wife 63 and we want to quit working but not take
I am 61 my wife 63 and we want to quit working but not take SS until 70 (will be $70k/yr). We have a million dollars. Cash $80,000 T-IRA $300K, Roth $350K (paying 0 taxed $35,000yr. Any Exp $65k/yr. T… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
34,083 satisfied customers
I will be in april. I will be 70 in april 2019 I will be 71
I will be 69 in april. I will be 70 in april 2019 I will be 71 in april 2020. I have ira account and about four 401 K accounts . Who determins what I am required to take out of either just IRA or IRA … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
34,083 satisfied customers
Second opinion] I have an IRA with about $1.3 million. I
Second opinion] I have an IRA with about $1.3 million. I turn 70.5 in August. I anticipate taking huge RMD's with corresponding tax consequences. My wife and I at retired. Our annual income is around … read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
4,127 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
34,083 satisfied customers
i turned 70 in may of 2014 and have just retired dec 1st....thinking
i turned 70 in may of 2014 and have just retired dec 1st....thinking of rolling over my 401k $160,000 ..not sure what to do....would like to keep out of stock market but still have the tax deferred of… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
34,083 satisfied customers
My mother will be turning 70 years old next month on February
My mother will be turning 70 years old next month on February 14th, 2010. She is still working and plans to do so until she is unable or no longer wishes to. She currently has a small 403b account at … read more
Bill
Bill
Master's Degree
3,174 satisfied customers
If someone has a large ira and is 74 yo. how does she
If someone has a large ira and is 74 yo. how does she relieve her tax burden with the RMDs? She must take out $20000 per year and it bumps her up to over $80,000 in income which makes her pay double f… read more
Bill
Bill
Master's Degree
3,174 satisfied customers
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