Roth IRA, Traditional IRA, 401K » change http://www.iraroth.net IRA Questions and Answers Tue, 17 Jan 2012 00:09:43 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 Is it possible to change a Roth IRA to a traditional IRA? http://www.iraroth.net/2011/04/is-it-possible-to-change-a-roth-ira-to-a-traditional-ira-2/ http://www.iraroth.net/2011/04/is-it-possible-to-change-a-roth-ira-to-a-traditional-ira-2/#comments Wed, 06 Apr 2011 22:23:10 +0000 admin http://www.iraroth.net/2011/04/is-it-possible-to-change-a-roth-ira-to-a-traditional-ira-2/ Question by Brian T: Is it possible to change a Roth IRA to a traditional IRA?
I am young, and I know most financial advisors/calculators out there tell you I would stand to benefit from being in a ROTH IRA. However, after researching this, I know longer believe there’s any guarantee the gov’t will keep the policy of not taxing my returns when I retire 30 years from now. I’d rather take the tax benefit now. Your thoughts?

Best answer:

Answer by dan
If you contributed the money into the Roth this year (2007) you can do what is called a “recharacterization.” The company you invest with will have a form to fill out. The only thing is, you can recharacterize THIS year’s contribution back to the traditional IRA, but any contributions you made to a Roth in prior years cannot be recharacterized.

What do you think? Answer below!

]]> http://www.iraroth.net/2011/04/is-it-possible-to-change-a-roth-ira-to-a-traditional-ira-2/feed/ 1 Q&A: When I change my IRA to a ROTH IRA can I pay the taxes from the IRA? http://www.iraroth.net/2011/03/qa-when-i-change-my-ira-to-a-roth-ira-can-i-pay-the-taxes-from-the-ira/ http://www.iraroth.net/2011/03/qa-when-i-change-my-ira-to-a-roth-ira-can-i-pay-the-taxes-from-the-ira/#comments Thu, 17 Mar 2011 22:25:15 +0000 admin http://www.iraroth.net/2011/03/qa-when-i-change-my-ira-to-a-roth-ira-can-i-pay-the-taxes-from-the-ira/ Question by barry b: When I change my IRA to a ROTH IRA can I pay the taxes from the IRA?
I am retired and want to change my ira to a roth ira so I don’t have to worry about future taxes from the roth ira.
what are the rules of the roth ira?

Best answer:

Answer by Scott
It the same rules as for an IRA. The difference is on the withdrawal. Roth’s you have already paid them and for a standard IRA you have not. So on each payment from an IRA you will owe taxes. On a Roth each payment will be tax exempt.

Yes, you can have them withhold the taxes from the amount being rolled over. Just tell them what percentage to withhold (min 10%).

Not sure why you want to pay a lump sum to the IRS at this point? Are you expecting large gains from the market????

What do you think? Answer below!

]]> http://www.iraroth.net/2011/03/qa-when-i-change-my-ira-to-a-roth-ira-can-i-pay-the-taxes-from-the-ira/feed/ 0 401k, Can the government change the tax rate on 401k plans in the future? http://www.iraroth.net/2010/07/401k-can-the-government-change-the-tax-rate-on-401k-plans-in-the-future/ http://www.iraroth.net/2010/07/401k-can-the-government-change-the-tax-rate-on-401k-plans-in-the-future/#comments Fri, 02 Jul 2010 21:19:37 +0000 admin http://www.iraroth.net/2010/07/401k-can-the-government-change-the-tax-rate-on-401k-plans-in-the-future/ I know that the government has changed the distribution age several times in the past on 401k plans but I was told that the government could change the tax rate anytime and for any amount.

]]> http://www.iraroth.net/2010/07/401k-can-the-government-change-the-tax-rate-on-401k-plans-in-the-future/feed/ 7 Is it possible to change a Roth IRA to a traditional IRA? http://www.iraroth.net/2009/12/is-it-possible-to-change-a-roth-ira-to-a-traditional-ira/ http://www.iraroth.net/2009/12/is-it-possible-to-change-a-roth-ira-to-a-traditional-ira/#comments Tue, 22 Dec 2009 03:06:54 +0000 admin http://www.iraroth.net/2009/12/is-it-possible-to-change-a-roth-ira-to-a-traditional-ira/ I am young, and I know most financial advisors/calculators out there tell you I would stand to benefit from being in a ROTH IRA. However, after researching this, I know longer believe there’s any guarantee the gov’t will keep the policy of not taxing my returns when I retire 30 years from now. I’d rather take the tax benefit now. Your thoughts?

]]> http://www.iraroth.net/2009/12/is-it-possible-to-change-a-roth-ira-to-a-traditional-ira/feed/ 2 When I change my IRA to a ROTH IRA can I pay the taxes from the IRA? http://www.iraroth.net/2009/12/when-i-change-my-ira-to-a-roth-ira-can-i-pay-the-taxes-from-the-ira/ http://www.iraroth.net/2009/12/when-i-change-my-ira-to-a-roth-ira-can-i-pay-the-taxes-from-the-ira/#comments Fri, 11 Dec 2009 22:42:40 +0000 admin http://www.iraroth.net/2009/12/when-i-change-my-ira-to-a-roth-ira-can-i-pay-the-taxes-from-the-ira/ I am retired and want to change my ira to a roth ira so I don’t have to worry about future taxes from the roth ira.
what are the rules of the roth ira?

]]> http://www.iraroth.net/2009/12/when-i-change-my-ira-to-a-roth-ira-can-i-pay-the-taxes-from-the-ira/feed/ 1