So I contributed to a Roth IRA account for 2009 and didn’t realize until I started doing my taxes that I should have contributed to a Traditional IRA to be qualified for a deduction. Can I move those funds from the Roth IRA to the Traditional IRA without it being considered a conversion? Just hoping there was something I could do to fix it since I know you have up until April 15th to contribute for the previous year.

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Up to this point I’ve invested in Vanguard index funds for my traditional IRA account, but this year I thought I might try picking out individual stocks to feed the traditional IRA account. Is this allowed? Also any advice about how I actually go about buying these individual stocks? Many thanks in advance for your help!!

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My consulting business did well enough this year that I had a bit of money due to the IRS. I planned on setting up an IRA this year since I’m in my mid-twenties. I like the tax-free potential of the Roth, but I also need to lower my AGI this year. Would it make sense to open and contribute a portion of my wages to a traditional account and deduct what I need to break even on taxes, and throw the rest into a Roth account? Not exceeding the ,000 limit on contributions of course… The fees on the accounts should be negligable, considering that I’m working primarily with an Internet broker.
25% is my current tax bracket.

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Imagine two people starting starting with 2,000 pre-tax dollars to invest at age twenty-five. The tax rate is a constant 25 %, and the capital gains rate is constantly 15 %.One person invests in the ROTH IRA (for 1,500 dollars because of the tax), and one invests in the Traditional IRA. If the annual rate of return for each investor is 8%, who does better in the end if retirement is age 70, exactly 45 years later?

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I have a traditional IRA (about 40K) that I am thinking of converting to a Roth IRA. I am retired and about 3 years away from mandatory IRA withdrawals. Knowing full well that I will take a tax hit if I do this, is it a good idea to do this and just let the money grow tax free or should I just steel myself to mandatory yearly withdrawals at age 70 1/2, I can afford the tax hit and my taxable income in 2007 was approx 37K. Thx

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Is there a max amount we can put in a Traditional IRA account if my husband has a 401k through work? Can someone explain how that works? We’re trying to avoid paying even more taxes for 2009 by opening an IRA account. We’ve already paid a lot of taxes and now we’re supposed to pay an additional ,000 because we’re now in a higher tax bracket.

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I have 00 in my traditional ira so someone please help me on this so I dont get mega taxed all at once. How much per year?

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i have a traditional ira. i know u can contribute up to 00 at a given year. i was told traditional ira is tax deductible. im in the 28% tax bracket in nyc. so how much can i deduct if i contribute up to 00, 00, 00, or 00 in a given year? thx in advance.

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I contributed to much to my SEP-IRA, how much can i transfer to my Roth/Traditional IRA(I am assuming that i can transfer still for 2008) ? Also, i closed an HSA account, can i just transfer that to another account ? Would this transfer affect my SEP transfers ?

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I rolled over the amount in my traditional IRA to a Roth last year. Therefore, I’m being hit based on my 1099-R with taxes on my Conversion to the Roth. The Traditional IRA contribution for the 2006 year, was placed AFTER I had filed my 2006 taxes. How do I get this credit/deduction applied to my 2006 taxes?

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Suppose Income Tax bracket 25%, then you subtract 25% from say 0,000 Traditional IRA at the end of 2008 value, so that you pay Tax 0,000 in 2009 if you convert this year( 2009)? Am I correct? Is it that simple? Thank you very much for answering.

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This seems to indicate that I can. Does anyone have experience with this?

http://www.irs.gov/publications/p590/ch01.html#d0e4612

Allowable conversions. You can withdraw all or part of the assets from a traditional IRA and reinvest them (within 60 days) in a Roth IRA. The amount that you withdraw and timely contribute (convert) to the Roth IRA is called a conversion contribution. If properly (and timely) rolled over, the 10% additional tax on early distributions will not apply.

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I am told that inheritances are not taxable. I inherited a traditional IRA. I am told that the IRAs are taxable. True? And why are they taxable but other inheritances are not?

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Most published articles paint a very favorable picture of Roth IRA versus the Traditional IRA (and other IRA-like plans). I have done my own analysis and I honestly think the Roth is a clever government scheme to collect more taxes, and under no circumstances have I been able to think up a scenario where the individual taxpayer/investor comes out ahead with a Roth. Can you point out any well-written article that supports my opinion?

Thanks
I am not looking to debate my findings. I just want to find people who agree.

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I have exceeded the income limits for a Roth IRA and would like to transfer the excess to my traditional IRA account. Anyone know if this is possible and if so, how I should go about doing this?

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