Is money transferred from Traditional IRA to Roth IRA considered earned income in the year it is transferred?164 out of 233 people found this useful.
So if I put $5500 in my Roth IRA in February, can I contribute another $5500 in May since it will be a new tax year?204 out of 300 people found this useful.
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Two questions: 1) If I convert funds from a traditional IRA to a Roth and combine those funds with an existing 5 year old Roth, have I poisoned the entire Roth for another 5 years, or only a portion of it? 2) If I make an excess contribution to a Roth am I only required to withdraw the excess, or must I withdraw any earnings attributed to that excess contribution? Thanks!47 out of 81 people found this useful.
If I cancel and cash in my Roth IRA, is it considered "income" by the IRS and state workforce commissions?57 out of 94 people found this useful.
I am 62 years old and have had my Roth IRA account for around 15 years. I am looking to buy a home and need what little money I have in my IRA for a down payment. How do I get the money and do I have to pay taxes on it?65 out of 101 people found this useful.
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I had a regular IRA that I rolled into an Roth, and paid the taxes on it. Since then it has grown dividends etc. I would like to take out the original amount that I paid taxes on to purchase a second home. Can I do this without penalty?80 out of 132 people found this useful.