| Author |
Message |
 Topic: I had too much tax taken out on the Roth rollover. Now what? |
marathon don
Replies: 19
Views: 23775
|
 Forum: Taxes Posted:
Fri Dec 19, 2008 1:47 am Subject: I had too much tax taken out on the Roth rollover. Now what? |
Thanks Tim and Jim.
The nice manager lady at TD didn't call like she said she would. Maybe she got side tracked or maybe perhaps they just don't want my accounts anymore. And that can be arranged.
... |
| Topic: I had too much tax taken out on the Roth rollover. Now what? |
marathon don
Replies: 19
Views: 23775
|
Forum: Taxes Posted:
Thu Dec 18, 2008 2:13 am Subject: I had too much tax taken out on the Roth rollover. Now what? |
I do appreciate and value all of the input received thus far.
Yes you're right. It is complicated so today I have talked to 2 CPAs. Not sure which I am going to go see yet.
I'll be talking to th ... |
| Topic: I had too much tax taken out on the Roth rollover. Now what? |
marathon don
Replies: 19
Views: 23775
|
Forum: Taxes Posted:
Wed Dec 17, 2008 10:42 pm Subject: I had too much tax taken out on the Roth rollover. Now what? |
Thanks for taking the time to answer the questions to my dilemma.
“You did a conversion from a trad to a Roth, using the trad funds to pay tax on the conversion.”
I think this is true. I combine ... |
| Topic: I had too much tax taken out on the Roth rollover. Now what? |
marathon don
Replies: 19
Views: 23775
|
Forum: Taxes Posted:
Wed Dec 17, 2008 1:50 pm Subject: Another point of confusion |
While researching this further I came across this.
No: tax-free rollovers. If you made a tax-free rollover to a traditional IRA, you can't transform that event into a conversion to a Roth IRA. It d ... |
| Topic: I had too much tax taken out on the Roth rollover. Now what? |
marathon don
Replies: 19
Views: 23775
|
Forum: Taxes Posted:
Wed Dec 17, 2008 3:24 am Subject: I meant converted. |
Thanks Jim.  |
| Topic: Social security tax on a roth? |
marathon don
Replies: 15
Views: 35758
|
Forum: Taxes Posted:
Wed Dec 17, 2008 3:09 am Subject: Social security tax on a roth? |
My email gave me no indication this thread was on going and I appreciate the replies.
Tim thanks for the reply you posted weeks ago.
To answer oldguy. I did the conversion based on current and p ... |
| Topic: I had too much tax taken out on the Roth rollover. Now what? |
marathon don
Replies: 19
Views: 23775
|
Forum: Taxes Posted:
Wed Dec 17, 2008 2:50 am Subject: I had too much tax taken out on the Roth rollover. Now what? |
I recently rolled my traditional IRA to a Roth but blundered slightly. I had too much federal and state tax withheld. About 8k worth for federal according to Turbo tax
I called the firm who holds t ... |
| Topic: Social security tax on a roth? |
marathon don
Replies: 15
Views: 35758
|
Forum: Taxes Posted:
Tue Dec 09, 2008 3:41 am Subject: Social security tax on a roth? |
I am getting ready to roll from a traditional IRA to a Roth and will have to pay 33% in Fed taxes.
It is my understanding that SS taxes are on wages and not on this rollover. I am correct? If they ... |
| Topic: [b]Trying to reduce/eliminate the 10% early withdraw penalty |
marathon don
Replies: 10
Views: 6793
|
Forum: Retirement Planning Posted:
Tue Nov 25, 2008 3:31 am Subject: [b]Trying to reduce/eliminate the 10% early withdraw penalty |
My AGI is well under 100k since I sold my stocks last year and the year before. I have about 8K in cap gains, 1 child, around 12k mortgage intrest at most, vehicle tax etc. but nothing to add back.
... |
| Topic: [b]Trying to reduce/eliminate the 10% early withdraw penalty |
marathon don
Replies: 10
Views: 6793
|
Forum: Retirement Planning Posted:
Mon Nov 24, 2008 2:04 am Subject: [b]Trying to reduce/eliminate the 10% early withdraw penalty |
Jim, Thanks for taking the time to reply, especially on a Sunday.
What I have planned is going to entail withdrawing a substantial amount of money from my IRA. However after crunching the numbers I ... |
| Topic: [b]Trying to reduce/eliminate the 10% early withdraw penalty |
marathon don
Replies: 10
Views: 6793
|
Forum: Retirement Planning Posted:
Thu Nov 20, 2008 2:44 am Subject: [b]Trying to reduce/eliminate the 10% early withdraw penalty |
| I am considering converting my traditional IRA to a Roth. I am trying to minimize the 10% penalty I expect to incur because of an expected early withdrawal i.e.; near total if not total, from said Rot ... |
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