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15 posts tagged with taxes and IRA. (View popular tags)
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Teaching My Money To Sit Up And Beg Comes Next

I had two orphan 401(k) plans from old jobs that I rolled over into my (traditional) IRA this year. When I do my 2013 taxes, do I count those as part of my IRA contribution for the year? [more inside]
posted by EmpressCallipygos on Oct 14, 2013 - 8 answers

Filing Taxes for the First Time: Roth IRA Question

Hi HiveMind, I'm filing my own taxes for the first time as a recent college graduate (using TurboTax -- so easy!) and I have a question with regards to my Roth IRA account. In 2012, I graduated college and started a business. We didn't open for business until late November and I only paid myself $1,250 for all my work in 2012. I also opened a Roth IRA account and contributed $5,000 for the year. However, according to TurboTax, contributions to an IRA account cannot exceed earned income. My question: can I simply report a $1,250 contribution to the IRA on my taxes and leave the $5,000 in the IRA? Will this get me in trouble? Should I merely take out the $3,750 and invest it in a different account? If noticed, could I just plead ignorance as my first time filing? Thanks!
posted by masters2010 on Mar 3, 2013 - 5 answers

Roth IRA conversion from 401(k)?

Should I roll over my 401(k) and then convert it immediately to a Roth IRA? [more inside]
posted by anonymous on Jul 11, 2011 - 6 answers

Do I have to contribute as much to my Roth as stated on my taxes?

My tax preparer reported I contributed more to my Roth IRA than I actually did. Does this matter? [more inside]
posted by beyond_pink on Apr 12, 2010 - 10 answers

Roth IRA but will not be working anymore??

Can I keep my Roth IRA if I'm not working anymore? [more inside]
posted by lynnie-the-pooh on Feb 7, 2010 - 5 answers

Reporting rollover from IRA to 401k on U.S. Taxes

US Tax Filter: How do I report an asset transfer/rollover from an IRA into a 401k to the IRS so that we are not taxed for the amount? I know you are not my tax advisor. [more inside]
posted by anonymous on May 11, 2009 - 6 answers

Can I opt out of income taxes on inherited retirement benefits?

Can I opt out of paying income taxes on inherited retirement benefits in the USA? I won't be filing a tax return, anyway. [more inside]
posted by xanthippe on Jul 22, 2008 - 9 answers

MAGI May (Be Headed North of $100k)

Will opening a Solo 401(k) before year's end reduce my modified adjusted gross income (MAGI)? I'm a 28-year-old freelance worker with a sole proprietorship, and I'd like to be able to fully fund my Roth IRA for 2008 [more inside]
posted by anonymous on Jun 26, 2008 - 1 answer

IncomeTaxFilter: Inherited IRAs, taxes, and my lazy, lazy habits.

I inherited a proportional share (a third or a half, usually) of several small IRA accounts last March. I have yet to actually claim these inheritances or do rollovers for them, so technically they're still under the name of the decedent. Do I have any tax obligations for these for 2007? Does the decedent (meaning do I have to do anything for the decedent's 2007 return)?
posted by liketitanic on Apr 4, 2008 - 10 answers

IRA For First Home Purchase

I want to buy my first house AND not owe any Federal taxes for 2007...Traditional IRA Perhaps? [more inside]
posted by Smarson on Mar 26, 2008 - 15 answers

So happy about the 401K until...

Did my 401K just blow my IRA deduction out of the water? [more inside]
posted by kookywon on Feb 15, 2008 - 7 answers

HSA's = tax-free retirement account?

Health Savings Accounts (HSA's) ... Can they be used as just another tax-free retirement account after you max out your Roth IRA? [more inside]
posted by MrBCID on May 16, 2007 - 6 answers

Roth IRA Niceties

Are there tax consequences from buying and selling stock within a Roth IRA? [more inside]
posted by bink on Oct 14, 2006 - 2 answers

When should I open my Roth IRA?

Should I open my Roth IRA now and buy what I can afford, or wait until I can afford the minimum investment in the fund I really like? [more inside]
posted by electric_counterpoint on May 12, 2006 - 9 answers

Roth IRA: I contributed too much. Now what?

Tax Attorney Filter: I contributed too much to my Roth IRA 3 years in a row. Should I be worried? [more inside]
posted by sdis on Feb 24, 2006 - 6 answers

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