Roth IRA, Traditional IRA, 401K » separate 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 withdraw 5K from 2 separate IRA accounts for 1st time home buying ? http://www.iraroth.net/2010/04/can-i-do-5k-withdrawal-from-2-separate-iras-for-1st-time-home-buying/ http://www.iraroth.net/2010/04/can-i-do-5k-withdrawal-from-2-separate-iras-for-1st-time-home-buying/#comments Fri, 09 Apr 2010 19:23:55 +0000 admin http://www.iraroth.net/2010/04/can-i-do-5k-withdrawal-from-2-separate-iras-for-1st-time-home-buying/ I have two different IRA accounts with over 5K in each one. Is it possible for me to withdraw $5K from each account or should I consolidate them first then withdraw $10K ?

]]> http://www.iraroth.net/2010/04/can-i-do-5k-withdrawal-from-2-separate-iras-for-1st-time-home-buying/feed/ 1 Can my husband and I both have separate Roth IRAs? http://www.iraroth.net/2010/01/can-my-husband-and-i-both-have-separate-roth-iras/ http://www.iraroth.net/2010/01/can-my-husband-and-i-both-have-separate-roth-iras/#comments Sun, 17 Jan 2010 19:40:01 +0000 admin http://www.iraroth.net/2010/01/can-my-husband-and-i-both-have-separate-roth-iras/ I have had a Roth IRA since I was 18 that I have been maxing out. My husband and I are both 21 right now, and we have not put his name on it because we would like to open up one for him in order to maximize future tax-free withdrawals.

Would we have to file separate tax returns for this to be legal? Is a person allowed to have more than one Roth IRA?

Thanks.

]]> http://www.iraroth.net/2010/01/can-my-husband-and-i-both-have-separate-roth-iras/feed/ 5 Can I contribute up to the limit into separate traditional IRA and Roth IRA accounts on the same year? http://www.iraroth.net/2009/12/can-i-contribute-up-to-the-limit-into-separate-traditional-ira-and-roth-ira-accounts-on-the-same-year/ http://www.iraroth.net/2009/12/can-i-contribute-up-to-the-limit-into-separate-traditional-ira-and-roth-ira-accounts-on-the-same-year/#comments Thu, 10 Dec 2009 21:08:34 +0000 admin http://www.iraroth.net/2009/12/can-i-contribute-up-to-the-limit-into-separate-traditional-ira-and-roth-ira-accounts-on-the-same-year/ Let’s say for 2008, I would like to contribue the $5k (max amount) to my traditional IRA and another $5k to a Roth IRA. At the same time, I’m an active participant to an employer sponsored 401k plan. I will be filing on single status. Can I do this?

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