s******d
发帖数: 323 | 1 question 1:
is that for 2010 only or 2010, 2011, ... indefinitely?
another question:
I haven't contributed any IRA for 2009.
If I contribute a non-deductible IRA on 1/1/2010 for 2009 tax year,
can I convert that to roth IRA the same day, or sometime close?
If so, do I need to pay tax (twice??)? If not,
how is this different from being able to contribute to Roth IRA directly?
thanks~~ |
t***s
发帖数: 4666 | 2
it sounds like only for 2010
you can even contribute to 2010 year and convert it to roth.
but you cannot selectively convert part of your trad. ira.
it has to be spread out over the entire ira base if you don't
convert all of it.
【在 s******d 的大作中提到】
: question 1:
: is that for 2010 only or 2010, 2011, ... indefinitely?
: another question:
: I haven't contributed any IRA for 2009.
: If I contribute a non-deductible IRA on 1/1/2010 for 2009 tax year,
: can I convert that to roth IRA the same day, or sometime close?
: If so, do I need to pay tax (twice??)? If not,
: how is this different from being able to contribute to Roth IRA directly?
: thanks~~
|
c****o
发帖数: 32446 | 3 你肯定2010年的contribution也可以convert吗？
【在 t***s 的大作中提到】
:
: it sounds like only for 2010
: you can even contribute to 2010 year and convert it to roth.
: but you cannot selectively convert part of your trad. ira.
: it has to be spread out over the entire ira base if you don't
: convert all of it.
|
s**********d
发帖数: 36899 | 4 2010 only。不过可以把钱分到两年的income里交税。 |
s******d
发帖数: 323 | 5 I called a vanguard retirement specialist. he said
the conversion limit is gone indefinitely (starting from 2010)
but only the option of spread the tax for two years
is one time deal.
【在 t***s 的大作中提到】
:
: it sounds like only for 2010
: you can even contribute to 2010 year and convert it to roth.
: but you cannot selectively convert part of your trad. ira.
: it has to be spread out over the entire ira base if you don't
: convert all of it.
|
t***s
发帖数: 4666 | 6 really? that's good. so we can do it every year.
【在 s******d 的大作中提到】
: I called a vanguard retirement specialist. he said
: the conversion limit is gone indefinitely (starting from 2010)
: but only the option of spread the tax for two years
: is one time deal.
|
g********3
发帖数: 1281 | 7 Which 2 years? 2010 and 2011?
【在 s**********d 的大作中提到】
: 2010 only。不过可以把钱分到两年的income里交税。
|
m******t
发帖数: 2416 | 8
Ric Edelman has been spending a lot of time on his show
lately on this topic. You can find podcasts for the show
online I think. Might be something you want to check out.
【在 s******d 的大作中提到】
: question 1:
: is that for 2010 only or 2010, 2011, ... indefinitely?
: another question:
: I haven't contributed any IRA for 2009.
: If I contribute a non-deductible IRA on 1/1/2010 for 2009 tax year,
: can I convert that to roth IRA the same day, or sometime close?
: If so, do I need to pay tax (twice??)? If not,
: how is this different from being able to contribute to Roth IRA directly?
: thanks~~
|
s**p
发帖数: 518 | 9 俺有一点不理解，if convert a non-deductible traditional IRA to roth IRA in
2011, and if there is no gain on 2011 contribution, so no tax issue, then
what’s the difference between conversion and direct investment into roth
IRA? It is like allowing high income people to invest in roth IRA. Can 大侠
指正？Thanks
【在 t***s 的大作中提到】
: really? that's good. so we can do it every year.
|
c****o
发帖数: 32446 | 10 我好像有点不相信
【在 s******d 的大作中提到】
: I called a vanguard retirement specialist. he said
: the conversion limit is gone indefinitely (starting from 2010)
: but only the option of spread the tax for two years
: is one time deal.
|
|
|
t***s
发帖数: 4666 | 11 i guess blame on the government for making the detour.
and the good thing is you can convert on the same day or manybe the next
and it's virtually guaranteed there's no tax implications.
【在 s**p 的大作中提到】
: 俺有一点不理解，if convert a non-deductible traditional IRA to roth IRA in
: 2011, and if there is no gain on 2011 contribution, so no tax issue, then
: what’s the difference between conversion and direct investment into roth
: IRA? It is like allowing high income people to invest in roth IRA. Can 大侠
: 指正？Thanks
|
t***s
发帖数: 4666 | 12 anyways, lets live one year at a time.
【在 c****o 的大作中提到】
: 我好像有点不相信
|
s******d
发帖数: 323 | 13 This is true for people who don't have (deductible) traditional IRAs.
Say you have 4000 deductible IRA, 4000 non-deductible IRA, 4000 Roth IRA>
Even if they are in separate accounts, you can't ask IRS to only convert
4000 non-deductible IRA into Roth IRA. If you convert 4000, then
IRS will think that you have 2000 deductible + 2000 non-deductible.
so you end up having 2000 deductible traditional IRA, 2000 non-deductible
traditional IRA, and 8000 Roth IRA. 2000 is taxed as regular income.
【在 s**p 的大作中提到】
: 俺有一点不理解，if convert a non-deductible traditional IRA to roth IRA in
: 2011, and if there is no gain on 2011 contribution, so no tax issue, then
: what’s the difference between conversion and direct investment into roth
: IRA? It is like allowing high income people to invest in roth IRA. Can 大侠
: 指正？Thanks
|
s******d
发帖数: 323 | 14 yes. IRS can change this rule anytime they want..
maybe the government need more money NOW so they encourage people to
convert?
【在 t***s 的大作中提到】
: anyways, lets live one year at a time.
|
t***s
发帖数: 4666 | 15 that's the thinking of the congress behind this.
【在 s******d 的大作中提到】
: yes. IRS can change this rule anytime they want..
: maybe the government need more money NOW so they encourage people to
: convert?
|
S**C
发帖数: 2964 | 16 If you live in a high tax state, ROTH conversion may not be as good as you
would like. In addition, the government CAN change rules. For example, SS
income was not taxed, now, it is partially taxed. |
t***s
发帖数: 4666 | 17 it doesn't matter for ppl who cannot deduct traditional ira. that's
a lot of ppl.
【在 S**C 的大作中提到】
: If you live in a high tax state, ROTH conversion may not be as good as you
: would like. In addition, the government CAN change rules. For example, SS
: income was not taxed, now, it is partially taxed.
|
