I am 23 and have been in the military for about 3 years. I have had a small amount of money invested in an ING account from a job that I left about five years ago. I would like to finally do something with it and am debating between a traditional IRA from ING, or a 401K. I am a total novice when it comes to investing and would like some advice from someone who knows what they are talking about. What would be better for me at this point to put the money in so I can add more in each month.
Thanks in advance.

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I’m retired and my income comes from withdrawls from a traditional IRA. I need to buy a home but the down payment withdrawl will be taxed heavily because it will put me in a higher tax bracket. Any way around this?

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I know or at least am certain the Traditional IRA correct but I am not sure if the Roth would be.
Thank you to everyone.

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I am a college student and I have a Federal AGI of ~7200for 2007.
Because I don’t plan on having very much income added to the fact I plan on having a good amount of capital losses, would it be a good idea to start a traditional IRA to shelter 1900 (what I’m being charged taxes on) from fed taxes? Then, next year, I would roll that traditional IRA over into a Roth when I don’t have an AGI anywhere near 5300.
Is this feasible? This won’t be too hard will it?

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Can I take a tax deduction on a loss in a Traditional IRA?

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I know it’s taxed when you get the money from traditional IRA, but is it taxed on your current income bracket or the amount of money you take out?

say you retire earlier and sell your biz.. so you pay no income tax, then even if you take out your IRA early, pay 10% penalty, do you still pay income tax on the money?

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I put money in traditional IRA for last 3 years, can I convert them all to Roth IRA in 2007? Under what circumstance does it make sense?

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I know there are income limits on contributing to *Roth* IRA. I also know there are income limits on *writing off* a contribution to a Traditional IRA. I’m not asking either. I’m asking are there income limits on making a contribution to a Traditional IRA?

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Why should I have a vehicle to keep my mutual funds in? They are easily accessible when needed. I will be taxed at both points in time with or without a traditional IRA. The roth is not an option.

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Let’s say for 2008, I would like to contribue the k (max amount) to my traditional IRA and another k to a Roth IRA. At the same time, I’m an active participant to an employer sponsored 401k plan. I will be filing on single status. Can I do this?

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Imagine two people 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 ,000 in a traditional IRA and I want to buy my first house this summer. The ,000 would help me with pulling together enough money for a down payment. I would like to use it for this, but I don’t want to have to pay a penalty for an early withdrawal. I am 32 years old. Any advice?

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I qualify for foreign earned income exclusion. This shows as a negative on income on the tax form. If I convert a traditional IRA to a Roth IRA, the IRS will withhold some taxes. Since my income is negative, can I get these taxes back at the end of the year? Alternatively, can my negative income offset capital gain taxes?
Using the Turbotax program, it takes the value from form 2555, and places it as a negative number in form 1040. Reading the instructions from form 2555, it says to place the value in parenthesis which indicates a negative, correct?

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Can you contribute to the traditional ira and claim deductions incase you worked part of the year for the employer that has retirement plan and you contributed to 401K?
Considerting that you were employed for rest of the year.

Did not get any clear answer after lot os searching. Any ideas?

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I have a traditional IRA which contains TIPS (treasury inflated protected securities). How do I calculate taxes when converting the IRA to a Roth IRA?

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