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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 (regrettably) converted my 401k which contained Pre-Tax and After-Tax money into a Roth 401k, meaning I need to pay taxes on the Pre-Tax and After-Tax gains as it they were income. This was done in Jan 2024. My understanding is after I file taxes for 2023, I need to look at my 2023 Form 1040 and view line 24 (total…
Hello, For my 2023 taxes, I have both forms 1099R & 5498. When I file my tax return, where and how do I provide my 5498 information? I want it to be clear that I did not contribute beyond the 2022 contribution limit, and that I only made non-deductible & post-tax contributions. Details below: I completed most of my 2022…
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