Roth IRA, Traditional IRA, 401K » rollover 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 Q&A: I want to rollover my traditional ira to a Roth ira verses? http://www.iraroth.net/2011/04/qa-i-want-to-rollover-my-traditional-ira-to-a-roth-ira-verses/ http://www.iraroth.net/2011/04/qa-i-want-to-rollover-my-traditional-ira-to-a-roth-ira-verses/#comments Sat, 02 Apr 2011 22:24:17 +0000 admin http://www.iraroth.net/2011/04/qa-i-want-to-rollover-my-traditional-ira-to-a-roth-ira-verses/ Question by ferggkeane: I want to rollover my traditional ira to a Roth ira verses?
I only have $ 5000 in traditional, and want to roll it over now because i’m taxed in the 15% tax range. And when i but it in a roth ira, it’ll be tax free when i take it out when i retire. Verses the traditional ira, which would be taxed at a higher rate when i retire in 20 years, ( that is if i’m in a higher tax braket). Does this sound like a smart thing to do?

Best answer:

Answer by badgerboise
Rolling it over to a Roth IRA is a fine idea to prevent being taxed on future earnings. However, bear in mind that if the $ 5000 you presently have in the traditional IRA was deposited as a tax exempt, you will be required to pay the tax on that amount in the year you roll it over. If you do a rollover, it is easier if you do not let the money pass through your hands in making the transfer. That way if a snag occurs, you are not responsible for any penalties or taxes.

Give your answer to this question below!

]]> http://www.iraroth.net/2011/04/qa-i-want-to-rollover-my-traditional-ira-to-a-roth-ira-verses/feed/ 1 Roll Over Traditional IRA to Roth IRA, at 50 With No Other Income http://www.iraroth.net/2011/03/roll-over-traditional-ira-to-roth-ira-at-50-with-no-other-income/ http://www.iraroth.net/2011/03/roll-over-traditional-ira-to-roth-ira-at-50-with-no-other-income/#comments Mon, 28 Mar 2011 20:56:19 +0000 admin http://www.iraroth.net/?p=475 I would like to roll-over Traditional IRA to Roth IRA in March 2011 . I’m 50, early retiree and  physically outside the US; my unearned income from(dividend,investment and interest)and no other earned income.
What are the tax consequences? Or Should I roll-over part of my Traditional IRA into Roth IRA. I’m really concern about the tax any potential tax ramification of such move. Please advise. Thank you.

]]> http://www.iraroth.net/2011/03/roll-over-traditional-ira-to-roth-ira-at-50-with-no-other-income/feed/ 0 Can I rollover my roth ira to a different company but also roth ira? http://www.iraroth.net/2011/03/can-i-rollover-my-roth-ira-to-a-different-company-but-also-roth-ira-2/ http://www.iraroth.net/2011/03/can-i-rollover-my-roth-ira-to-a-different-company-but-also-roth-ira-2/#comments Wed, 09 Mar 2011 22:27:16 +0000 admin http://www.iraroth.net/2011/03/can-i-rollover-my-roth-ira-to-a-different-company-but-also-roth-ira-2/ Question by HEWLETT: Can I rollover my roth ira to a different company but also roth ira?
My agent wants me to roll my Roth IRA to another company (company1)that has better interest rates. Can I roll my roth ira to another company (company2) without penalties?

Best answer:

Answer by Kaptain Krakatoa
Yes, you can do that. Make sure that you’re investing in diversified, no-load mutual funds with expense ratios less than 1%.

What do you think? Answer below!

]]> http://www.iraroth.net/2011/03/can-i-rollover-my-roth-ira-to-a-different-company-but-also-roth-ira-2/feed/ 3 Do rollover amounts from a 401k to a traditional IRA count toward the $4000 contribution limit? http://www.iraroth.net/2010/02/do-rollover-amounts-from-a-401k-to-a-traditional-ira-count-toward-the-4000-contribution-limit/ http://www.iraroth.net/2010/02/do-rollover-amounts-from-a-401k-to-a-traditional-ira-count-toward-the-4000-contribution-limit/#comments Sun, 28 Feb 2010 16:35:02 +0000 admin http://www.iraroth.net/2010/02/do-rollover-amounts-from-a-401k-to-a-traditional-ira-count-toward-the-4000-contribution-limit/  

I have contributed the $4000 annual limit to my traditional IRA, and I just remembered that I also rolled over about $1500 from my last employers 401k plan. Will I be penalized for going over the annual limit?

]]> http://www.iraroth.net/2010/02/do-rollover-amounts-from-a-401k-to-a-traditional-ira-count-toward-the-4000-contribution-limit/feed/ 4 Should I consolidate Rollover IRAs with Non-Rollover IRAs? http://www.iraroth.net/2010/02/should-i-consolidate-rollover-iras-with-non-rollover-iras/ http://www.iraroth.net/2010/02/should-i-consolidate-rollover-iras-with-non-rollover-iras/#comments Sat, 27 Feb 2010 03:01:03 +0000 admin http://www.iraroth.net/2010/02/should-i-consolidate-rollover-iras-with-non-rollover-iras/ My accountant tells me that many years ago this would have been a terrible idea, but that now it doesn’t really matter. I have some Rollover IRAs and Non-Rollover IRAs that I want to consolidate to help manage my investment strategies. Upon consolidation, they will all become Non-Rollover IRAs, and apparently the only downside is that they will need to be tracked separately if I ever roll the funds over into another employer sponsored plan.

Are there any other disadvantages? I really like the simplification of getting everything onto one account. Should I go ahead and do this?

Thanks.
Thanks for the link, but I don’t understand the “seer or an oracle” comment…

]]> http://www.iraroth.net/2010/02/should-i-consolidate-rollover-iras-with-non-rollover-iras/feed/ 1 Why is it Important to Attach the Term “Rollover” to Certain IRAs? http://www.iraroth.net/2010/02/why-is-it-important-to-attach-the-term-rollover-to-certain-iras/ http://www.iraroth.net/2010/02/why-is-it-important-to-attach-the-term-rollover-to-certain-iras/#comments Fri, 12 Feb 2010 05:36:50 +0000 admin http://www.iraroth.net/2010/02/why-is-it-important-to-attach-the-term-rollover-to-certain-iras/ What happens if the term is inadvertently dropped ?

]]> http://www.iraroth.net/2010/02/why-is-it-important-to-attach-the-term-rollover-to-certain-iras/feed/ 2 Should I convert my rollover IRA to a Roth IRA, considering it is at half the value it was? http://www.iraroth.net/2010/01/should-i-convert-my-rollover-ira-to-a-roth-ira-considering-it-is-at-half-the-value-it-was/ http://www.iraroth.net/2010/01/should-i-convert-my-rollover-ira-to-a-roth-ira-considering-it-is-at-half-the-value-it-was/#comments Fri, 08 Jan 2010 23:07:06 +0000 admin http://www.iraroth.net/2010/01/should-i-convert-my-rollover-ira-to-a-roth-ira-considering-it-is-at-half-the-value-it-was/ I have a Rollover IRA that has lost half its value. If I convert it to a Roth IRA, I will pay taxes now, but it will grow tax free from now on. Should I convert it now, or should I let it ride, and pay taxes down the road (25 years)?

]]> http://www.iraroth.net/2010/01/should-i-convert-my-rollover-ira-to-a-roth-ira-considering-it-is-at-half-the-value-it-was/feed/ 4 Are there any tax advantages in converting a rollover IRA into a Roth IRA? http://www.iraroth.net/2010/01/are-there-any-tax-advantages-in-converting-a-rollover-ira-into-a-roth-ira/ http://www.iraroth.net/2010/01/are-there-any-tax-advantages-in-converting-a-rollover-ira-into-a-roth-ira/#comments Wed, 06 Jan 2010 19:43:17 +0000 admin http://www.iraroth.net/2010/01/are-there-any-tax-advantages-in-converting-a-rollover-ira-into-a-roth-ira/ As I understand it, if I convert the rollover into a Roth, I will then have to report the entire amount on my taxes as income the year I do the conversion. So after “x” number of years when I’m ready to start taking money out of my Roth, won’t I get taxed again? Am I setting myself up to let the IRS tax me twice on some of the same money?

]]> http://www.iraroth.net/2010/01/are-there-any-tax-advantages-in-converting-a-rollover-ira-into-a-roth-ira/feed/ 3 401k rollover to Roth IRA for married couple both age 60, Does it make financial sense? http://www.iraroth.net/2009/12/401k-rollover-to-roth-ira-for-married-couple-both-age-60-does-it-make-financial-sense/ http://www.iraroth.net/2009/12/401k-rollover-to-roth-ira-for-married-couple-both-age-60-does-it-make-financial-sense/#comments Sun, 20 Dec 2009 03:10:47 +0000 admin http://www.iraroth.net/2009/12/401k-rollover-to-roth-ira-for-married-couple-both-age-60-does-it-make-financial-sense/ With the new rule in effect as of March 2008 allowing a direct 401k rollover to Roth IRA, could you shed some light on this scenario: A couple, both over 60 files jointly and will be earning less income when retired. Currently both are working and earn 100,000. When retired their income will be 46,000. They have 300,000 combined in their 401k and would like to know if it makes financial sense to rollover to a Roth Ira. Thank you for your help.

]]> http://www.iraroth.net/2009/12/401k-rollover-to-roth-ira-for-married-couple-both-age-60-does-it-make-financial-sense/feed/ 1 Can you rollover 401k into an existing roth IRA? http://www.iraroth.net/2009/12/can-you-rollover-401k-into-an-existing-roth-ira/ http://www.iraroth.net/2009/12/can-you-rollover-401k-into-an-existing-roth-ira/#comments Sat, 19 Dec 2009 04:37:13 +0000 admin http://www.iraroth.net/2009/12/can-you-rollover-401k-into-an-existing-roth-ira/ I have a 401k with my job and a Roth IRA. I’m planning to leave my job soon (for school) so can I rollover my 401 into the current Roth IRA since it would be less than the annual contribution limit (about $2500). Or do I have to open a “Rollover IRA” and then maintain two separate IRA accounts?

]]> http://www.iraroth.net/2009/12/can-you-rollover-401k-into-an-existing-roth-ira/feed/ 4