FAQs tagged as


  1. Can I deduct my Individual Retirement Account (IRA) contribution on my tax return?

  2. Can I take money out of my Individual Retirement Account (IRA) while working?

  3. What's the difference between an individual retirement account (IRA) and an annuity?

  4. What's the difference between an individual retirement account (IRA) and a certificate of deposit (CD)?

  5. How Can I Fund A Roth IRA If My Income Is Too High To Make Direct Contributions?

  6. What are the differences between a 401K and an IRA?

  7. How do I retire?

  8. How do you plan for retirement if you have multiple employers? Can you combine retirement plans from multiple employers?

  9. My daughter would like to use some of her Roth IRA to pay for some current tuition fees and loans. Can she do this without a penalty?

  10. I have a 403(b) from a old employer. I would like to convert it to a 401(k). How can I do that?

  11. How can I start an IRA for my child?

  12. What are the exceptions to the premature withdrawal penalty rules for IRA accounts?

  13. Can I refuse a gift by providing a "Qualified Disclaimer," and what does this entail?

  14. What is the "stretch IRA" concept?

  15. What are the pros/cons of naming a trust as the beneficiary of a retirement account?

  16. Does it make sense to convert a Traditional IRA to a Roth when the market’s down?

  17. Which of the following accounts does ERISA cover?

  18. Is it wise to put an IRA account into a fixed or variable annuity?

  19. I overcontributed to my Roth, then lost half of this money to the market. Does the 6% penalty apply to my original contribution, or only what's left of it?

  20. How do I use a conduit IRA?

  21. We are in a 401(k) at work. Can we also do a Roth each year? If we can, can it also be deducted from our taxes?

  22. Do I still have to pay penalties and taxes on money that I don't roll over from a DROP fund?

  23. What are the penalties for withdrawing from my Traditional IRA less than a year after acquisition?

  24. I withdrew funds from my Roth IRA to contribute elsewhere. How will I be taxed?

  25. How do I get credit for my retirement plan contributions?

  26. How long does an IRA beneficiary have to take an RMD after the IRA holder dies?

  27. Can I, without tax penalties, use the IRA I inherited from my father to buy a home that I will live in? He was 72 and had started taking small payouts on it.

  28. Can a simplified employee pension (SEP) IRA be converted to a Roth IRA in the same manner that a Traditional IRA can?

  29. Are there tax penalties for closing my Roth IRA account?

  30. What is the difference between a Traditional and a Roth IRA?

  31. I earn more than the income limit for both a Roth and Traditional IRA deduction. Should I contribute anyway?

  32. Can I have a self-directed IRA or Roth IRA using the forex market?

  33. Should I start taking my RMD based on the amount in my account when I turn 70.5?

  34. My spouse has little/no income. Can I contribute to my spouse's IRA?

  35. Can I close my existing Roth IRA and invest in a new Roth IRA at a different financial institution without a tax penalty?

  36. I recently and accidentally established a Roth IRA for my spouse instead of myself and contributed additional monies. What should I do?

  37. I have several Roth IRA conversions, each with different custodians. When I spoke to an IRS representative, he maintained that the total amount of the conversions is always available. He told me that at any time I can take out what I had paid taxes on (wi

  38. Upon my death, will the beneficiaries of my IRA be compelled to take the entire amount in the IRA as ordinary income, forcing them into unusually high income tax brackets?

  39. If an IRA owner dies after starting required minimum distributions (RMD) but the spouse is under 70.5, can the spouse roll over the IRA into his/her own IRA, and stop RMDs until age 70.5?

  40. I am only 17 years old. I don't have a job or pay taxes. Can I contribute to an IRA?

  41. I deducted my IRA contribution on my tax return but failed to transfer the funds. What do I do?

  42. Are my IRAs secure against possible liens?

  43. Can I roll my SEP IRA into a Traditional IRA or should I convert to a Roth?

  44. What are the income limits for Roth IRA contributions?

  45. I will be receiving monies from a QDRO executed pursuant to my divorce. I would like to take a portion of the money as a distribution to pay for a new home. What are the tax implications of doing this?

  46. I am over 60 years old and have a Roth IRA to which I have made contributions for more than five years. Are all distributions tax free?

  47. I am the beneficiary of an IRA and a Keogh. Can I combine them into one plan?

  48. I am making after-tax contributions to an IRA. Will I get taxed again when I withdraw it (when eligible)?

  49. Can I add my higher income spouse's name to my Roth IRA in order to raise our contribution limits?

  50. If I roll my annuity into an IRA and receive after-tax distributions, will this be considered taxable income?

  51. Can I still set up an SEP if one of my employees refuses to participate?

  52. I just opened an IRA. What can I do to help my money grow?

  53. I am in my mid thirties and have nothing invested for retirement. Is it too late to start contributing for a retirement plan?

  54. What are the "certain requirements" that must be met for substantially equal periodic payments (SEPPs)? Is it taxed at 20%? Is there any downside to the SEPP?

  55. My 80-year-old mother used her Roth IRA assets to make an $11,000 annual gift tax exclusion. Will these still be considered Roth IRA assets?

  56. If I participate in my company’s SIMPLE IRA plan, can I also contribute to another IRA in order to receive a larger tax deduction?

  57. Can I roll over my IRA assets to a sheltered Canadian plan?

  58. My spouse and I now earn more than the dual-income limit specified by our IRAs. What will happen to our previous contributions?

  59. Can an IRA owner disclaim his widow's account but exclude one spendthrift contingent beneficiary?

  60. Is my non-qualified Roth IRA distribution subject to taxes or early distribution penalties?

  61. I want to close my IRA account. What percentage will I lose to tax?

  62. How do I go about opening up a Roth IRA?

  63. My recently deceased spouse's IRA has been rolled over into mine. Does the cost basis change for me?

  64. My certificate of deposit (CD) has just matured and I plan to contribute $10,000 of it to my current Roth IRA account. The person doing my taxes can't tell me why I can't make such a large contribution except for my low income - I am a disabled veteran on

  65. Can I fund a Traditional IRA, a 403(b) or a Roth IRA using pension money? I'm 56 years old. What limits apply if I can?

  66. I stopped distributions from my retirement account while under Rule 72(t). Will this have any effect on future distributions that I do take? Am I subject to the 10% penalty?

  67. Will I incur a tax penalty when making withdrawls from my IRA in excess of my SEPP?

  68. Can I return funds to my Roth IRA after I have taken it as a distribution?

  69. What's the best kind of IRA for a 20-something?

  70. Can I roll my 401(k) and/or IRA funds into a more liquid investment fund without penalty?

  71. I have conservative views on investing. How should I go about investing in a Roth IRA?

  72. Can my spouse and I convert our IRAs to Roth IRAs regardless of earned income?

  73. My husband has become eligible for a 401(k) plan (with no matching contribution) at work. How do we get back the $9,000 that we already contributed to our IRA for 2005 without a penalty? My husband earns $144,000/year and we're both over 50 years old.

  74. I am retiree, drawing from my 403(b) annuity. I am the sole employee of my own business. Do I qualify for a SIMPLE IRA account? I want to defer some of my income from taxes.

  75. My spouse is the primary beneficiary of my IRA. I also have a contingent beneficiary. Can my spouse still transfer my IRA assets tax-free to her own IRA?

  76. What's the difference between a savings account and a Roth IRA?

  77. Are there special benefits for U.S. armed forces personnel?

  78. I have several CDs in my IRA with different maturities. Can I roll them over to another institution with a better rate as they mature?

  79. As a temporary resident of the US, can I withdraw funds from my Traditional IRA without penalty when I leave the country?

  80. Can an IRA be used as security for a loan?

  81. I am a teacher in a public school system and I don't presently have a 403(b) plan, but I do have some money in a Roth IRA and also a self-directed IRA. Can I roll my IRA funds into a newly opened 403(b) plan, since I am presently employed by the school sy

  82. Which amount should the brokerage use for the 1099-R?

  83. How can I make sure that past IRS errors have been corrected?

  84. What are the rules and reporting requirements for a rollover of a required minimum distribution (RMD)?

  85. What does the Pension Protection Act of 2006 say about charitable contributions?

  86. What are the exceptions to the early distribution penalty for a non-qualified Roth IRA distribution?

  87. What is the difference between a ROTH, SEP and Traditional IRA?

  88. Can I establish more than one IRA?

  89. Can I move my IRA to a better income-producing opportunity?

  90. What do you do for a non-spouse beneficiary receiving a required minimum distribution (RMD) when the plan terminates? Is the purchase of an annuity the only option? Any thoughts on whether an IRA could be opened?

  91. My uncle died recently. He designated my mother and father as his beneficiaries in 1997, after his divorce, and did not make any changes after he remarried in 2000. My uncle's current spouse is now fighting for money from the plan. Does she have a leg t

  92. Can IRAs be held jointly by spouses?

  93. If a trust is named as the beneficiary of an IRA, can the trustee of that trust become the beneficiary without the IRA owner signing the Change of Beneficiary form?

  94. Can my spouse and I combine our Traditional IRAs?

  95. I inherited a Roth IRA. What are my options for taking distributions from the account?

  96. What is the difference between a Keogh and an IRA?

  97. Can either a SEP IRA or a SIMPLE IRA be attached in a bankruptcy or malpractice action, or are they safe from any financial judgments like these?

  98. Can I pull out most of my assets from my IRA and use the cash as long as I replace it in the IRA within a year?

  99. Can I borrow from an IRA without penalty?

  100. What is a good book on creating a trust that would qualify as the beneficiary for an IRA?

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