Questions tagged [ira]
In the United States, an IRA is an Individual Retirement Arrangement, a tax-deferred retirement account.
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IRS IRC 403(b) type pension annuity plan - Roll Over monthly payments to IRA - how can it be done and best practices
Thanks to Daniel G. posted a similar question which the answer was clear but I need the next steps on how to rollover the monthly pension payments into an IRA. My plan allows both direct and indirect ...
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Roth conversion as Canadian Resident
I am soon planning to move to Canada and take up a job in Canada for next 2-3 years. During my US journey of 10+ years, I have funded my 401k and Traditional IRA.
I would like to know can I do Roth ...
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Reverse rollover IRA and rule of 55
I'm looking to retire after 55+. Due to job changes through the years, I've rolled over previous 401K's to a traditional IRA. I want to avoid early withdrawal penalties and take advantage of the &...
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IRA Hardship Withdrawal - Insurance Premiums
My spouse has been unemployed for more than 12 weeks. She is enrolled in my employer insurance plan, and pays me the difference in premium (Individual vs. Individual + Spouse) every other week. Can ...
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Trading in IRA account
When we trade using IRA account, as it is not taxable, any short or long term gains doesnt matter correct? And after retirement age when we withdraw money, there will not be a capital gains and losses ...
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Fastest way to do direct transfer of from bank IRA to brokerage IRA?
I want to transfer a my Synchrony Bank cash IRA to my Vanguard IRA.
Synchrony does not support the ACAT transfer service (Vanguard does)
Vanguard says that it will take 4 to 6 weeks for the transfer ...
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Pro-rata rule and after-tax only Rollover IRA
What-if question.... I have a rollover IRA account that accumulated pre-tax balances from old 401Ks. At the same time I never contributed after-tax money to a traditional IRA.
Would it be beneficial ...
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Minimizing or avoiding penalty for early withdrawl of IRA and 401k
A friend of mine came to US to work for few years and he is forever going back to his original country because of personal reasons. He contributed to IRA, 401k and would like to take the money with ...
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Interest accrued in Traditional IRA during Backdoor Roth Conversion
Similar to another question: Interest accrued before backdoor roth ira conversion, but I want to highlight a specific nuance of my situation.
In 2023, I contributed the maximum $6500 to my Traditional ...
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Best traditional IRA investment for working person over 70?
My mother is 71 years old and plans to work at least 3 more years. She only recently opened a money market account (5%) and a traditional IRA. She put the maximum contribution for 2023---$7300---into ...
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My husband became a custodian on our son's 529 plan when my mother-in-law passed . Does the 15 year clock start all over again on IRA Conversion?
My mother-in-law opened an account for our son when he was very young. She died 10 years ago, and the change in custodian resulted in a new account registration. So, although the account looks like it ...
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IRA in a margin account
I understand that an IRA can't be held in a margin account, or at least margin can't be used. What I didn't know until recently is that the IRS can declare the entire account distributed if it's in a ...
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Move money from former employer's 401k to Roth IRA and Rollover IRA
I am no longer at my former employer but I have an existing 401k plan with Vanguard through them.
30% of the contributions were pre-tax. (traditional 401k)
70% of the contributions were post-tax. (...
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SEP IRA eligibility criteria?
I am trying to determine if I can establish and contribute to a SEP IRA. Here are what I think to be the relevant details and questions.
I receive a W-2 from my day job employer
I have side income ...
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Why do people like Mega Backdoor Roth IRAs?
So, according to me:
Traditional IRA:
Money goes in tax-free
Grows tax-free
Taxed as ordinary income in retirement
Roth IRA:
Money goes in after-tax
Grows tax-free
Tax-free in retirement
(These ...
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