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Hi everyone, I need some advice regarding a Roth IRA issue. In 2022, I contributed $6,000 to my Roth IRA, but I didn't have any earned income that year, and I didn't file a tax return myself. I'm aware that contributions without earned income are not allowed, so I have already withdrawn the $6,000 excess contribution from…
HI, I am over 65. I have a self-directed Roth IRA that I've contributed to and has been open for more than 5 years. Last year my company offered opening a Roth through work, which i took. combined I haven't contributed more than the maximum allowed. Can i take that money out of the work Roth and transfer it to my existing…
Hi everyone, I'm currently a college student, and I only made $5000 in 2023 through a part-time job. However, I have contributed the full $6500 to my Roth IRA (because I have previous savings) for 2023. For that reason, I now have around $1500 of excess Roth IRA contributions that I need to take out before April 15 (I just…
I have stocks in my traditional IRA, I have never made any profit in traditional IRA, is it possible to move stocks from traditional to roth IRA? do i need to pay any taxes on it?
I am 58-years-old and own two retirement accounts: (1) a Rollover IRA and (2) a Roth IRA; together they total just under $24,000. I’ve been disabled, on Social Security Disability for 12 years, and therefore not permitted to contribute to either account. If I were to take any money from either account, would I be subject…
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