Apr 4

Q&A: When calculating income for Roth IRA eligibility, do capital gains count toward the total?

Roth IRA calculating, Capital, count, eligibility, Gains, income, Roth, total, toward

Question by roth: When calculating income for Roth IRA eligibility, do capital gains count toward the total?
I know about the 99k-114k phaseout for single filers in 2007. So for example, if you made 90k in salary and had 25k in capital gains would you be able to contribute to a Roth IRA?

Best answer:

Answer by Spock (rhp)
capital gains do count

see IRS Pub 590 for the details of how to modify AGI for this calculation

http://www.irs.gov/publications/p590/ch02.html#d0e9254

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Mar 4

Does the amount converted from a traditional to a roth ira count toward the $5000 roth contribution limit?

Traditional IRA $5000, amount, contribution, converted, count, from, limit, Roth, toward, Traditional

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I am allowed a $5000 Roth contribution. I want to take $2000 from my traditional IRA and convert it into an existing Roth IRA. Can I put in $5000 PLUS the $2000 conversion, or does the conversion limit my contribution to only 3000 additional dollars this year?

Feb 28

Do rollover amounts from a 401k to a traditional IRA count toward the $4000 contribution limit?

Traditional IRA $4000, 401K, amounts, contribution, count, from, limit, rollover, toward, Traditional

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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?

Jan 3

When calculating income for Roth IRA eligibility, do capital gains count toward the total?

Roth IRA calculating, Capital, count, eligibility, Gains, income, Roth, total, toward

Add Comment (1)

I know about the 99k-114k phaseout for single filers in 2007. So for example, if you made 90k in salary and had 25k in capital gains would you be able to contribute to a Roth IRA?

Roth ira, roth ira rules,what is roth,retirement plan roth ira 2010,roth ira qualification,what does a roth ira do,ira for minors,simple roth ira calculator

Roth IRA, Traditional IRA, 401K

Q&A: When calculating income for Roth IRA eligibility, do capital gains count toward the total?

Does the amount converted from a traditional to a roth ira count toward the $5000 roth contribution limit?

Do rollover amounts from a 401k to a traditional IRA count toward the $4000 contribution limit?

When calculating income for Roth IRA eligibility, do capital gains count toward the total?

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