Is an excess Roth IRA contribution taxable when withdrawing it after the tax filing deadline with extension?
I contributed $6000 to a Roth IRA in 2006, which caused an excess of $2000. It is now after the tax-filing deadline with extension. I know that there is a 6% excise tax penalty already. My question is: Are there any taxes if I withdraw the $2000? And would the early distribution penalty 10% apply since I am under 59 1/2?
What’s the tax treatment for after-tax contribution and earnings in a 401K plan re-directed to an IRA rollover
Can the after-tax earnings rolled over to an IRA with tax-deferral or transferred to a regular brokerage account? If to a brokerage account what’s the tax treatment, ordinary tax or capital gains? Any other thoughts?
Can I deduct loss from excess contribution on Roth IRA?
I just found out that I have excess contributions on my 2008 Roth IRA. My options are either withdraw those excess contributions or roll over to traditional IRA to avoid the 6% penalty. The thing is that my current investment values are much lower than the contribution amounts. So, let’s say I decide to make withdrawal instead of roll-over, do I withdraw the contribution amounts or the current value attributing to the decline in values?
Personal Finance & Retirement Planning Tips : Excess ROTH IRS Contribution Tips
The IRS allows people of a certain age to contribute more than the maximum to a ROTH IRA. Discover why this is the case, and how it can benefit people who began saving for retirement late, with tips and advice on how to invest wisely from anexperienced financial adviser in this free video. Expert: Patrick Munro Contact: www.northstarnavigator.com Bio: Patrick Munro is a registered financial consultant (RFC) with outstanding sales volume of progressive financial products and solutions to the senior and boomer marketplace. Filmmaker: Reel Media LLC
IRA Contribution Limits for 2010, 2011
www.HarborFinancialOnline.com IRA Contribution Limits for 2010, 2011
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