23 April 2009
Taxpayer asks: Hi, I am currently retired, age of 60. I have pension income of $48K / yr and investment income of 20K/ yr. What are the tax consequences of converting a 401k of $120K to a Roth IRA? To limit taxes, should the conversion be structured over several years? Thanks, Taxgirl says: Retirement planning [...]
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15 April 2009
Taxpayer asks: What’s the maximum contribution to an IRA for 2008? What about 2009? What happens if I go over? Taxgirl says: Argh! Retirement plan questions are tough because they’re so fact specific. Here are the general rules as they relate to IRA contributions: If you are under 50 years of age at the end [...]
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