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Thanks for the thorough response previously. As a recap. In
Thanks James for the thorough response previously.As a recap. In 2018, I contributed a total of 11000 to both Roth (5500) and traditional IRA (5500). - Excess of 5500 in Roth IRA. In 2019, I contribut… read more
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This question is pertaining to Roth IRA investing, Pro rata
This question is pertaining to backdoor Roth IRA investing, Pro rata rule and IRA aggregation rule.Here is our story so far :1. I have a “non deductible” traditional IRA that I opened in 2007 and inve… read more
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IRS Tax Question: Can you confirm for me yet if I am good to
IRS Tax Question:Can you confirm for me yet if I am good to contribute $5,500 to a Traditional IRA for 2018 because I will max out my SEP IRA. I know I made enough to max out my SEP IRA, I just need y… read more
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I'm using Turbo Tax and I have both a Roth and Traditional
Hello. I'm using Turbo Tax and I have both a Roth and Traditional IRA that I contribute to. I contributed 4,947 to my traditional in 2018 and 3,600 in my Roth. It's saying I owe over $3,000 because I … read more
Lev
Lev
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help filling out Turbo Tax when I have back door roth ira … read more
Lane
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I have retired and receive a monthly pension but I still
I have retired and receive a monthly pension but I still work. I earned over 11,000 and opened and IRA of 5,500 but when I entered it into my turbo tax it wouldn't take it said I'm retired and made to… read more
Lev
Lev
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I am doing my daughters taxes...She is 25.....she had 15K in
I am doing my daughters taxes...She is 25.....she had 15K in a Roth IRA (after tax money) she withdrew 5K to help herself with money to move......every tax software I use is showing the Roth as additi… read more
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To Roth IRA expert: A joint filer was NOT eligible to
To Roth IRA expert: A joint filer was NOT eligible to contribute to a Roth IRA in 2014 as modified adjusted gross income exceeded $191,000. Using Fidelity, my friend's spouse contributed $6,500 into R… read more
Lev
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A taxpayer directly rolls Traditional IRA funds that were not
A taxpayer directly rolls Traditional IRA funds that were not deducted on his tax return into a ROTH IRA. Is this rollover taxable?… read more
Phillip B, EA
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Hello...my brother passed two months and I am in the process
Hello...my brother passed two months and I am in the process of deaing with his estate. He he had 140K in a 401K which will be split between his two boys ages 22 and 30. He had the traditional 401K bu… read more
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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
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From a traditional IRA contribution of $4000, TURBO TAX determined
From a traditional IRA contribution of $4000, TURBO TAX determined I had an excess ($1607 + $16.29 interest) so I removed the excess from the IRA (put in savings). How do I report that now ? And also … read more
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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
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"Did you have any Roth IRA transactions in a year prior to 2008?" Why am I an anyone who has a Roth IRA being asked this? Why are they trying to look back into my past? What do they mean by transactio… read more
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I am a single individual age 52 this year. I am currently unemployed but will be receiving some "salary" from my former employer this year. I usual make a Traditional IRA contribution early in the yea… read more
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