Search found 26 matches

by ljwobker
Fri Mar 18, 2016 8:52 pm
Forum: Investing - Help with Personal Investments
Topic: Roth IRA basis
Replies: 23
Views: 7279

Re: Roth IRA basis

Sorry - TurboTax is the only thing I've used to do my taxes so I'm referring to the form that they call "IRA Information Worksheet". It basically just exists to keep track of both value and basis for Traditional and Roth IRAs, with sections for "TIRA Basis Detail" and "TIRA ...
by ljwobker
Fri Mar 18, 2016 3:06 pm
Forum: Investing - Help with Personal Investments
Topic: Roth IRA basis
Replies: 23
Views: 7279

Re: Roth IRA basis

So in my case, I have basis in my Roth IRA that comes primarily from these sources: 1) direct contributions I made around years 2000-2003 2) funds converted via the two year window from a traditional IRA in tax years 2011/2012 3) funds converted from T-IRAs via the "backdoor roth" 4) funds...
by ljwobker
Wed Mar 16, 2016 1:49 pm
Forum: Personal Finance (Not Investing)
Topic: Backdoor Roth with unanticipated balance in traditional IRA...
Replies: 6
Views: 617

Re: Backdoor Roth with unanticipated balance in traditional IRA...

Then as long as you can rollover the pre tax balance of your TIRA into your current employer plan before year end, you can reconvert the remaining basis in your TIRA tax free. But you cannot reconvert until at least 30 days have passed after the recharacterization of your 2015 conversion. Alan - wh...
by ljwobker
Wed Mar 09, 2016 1:35 pm
Forum: Personal Finance (Not Investing)
Topic: Accounting for TIRA-> Roth-> TIRA in different tax years?
Replies: 3
Views: 439

Re: Accounting for TIRA-> Roth-> TIRA in different tax years?

Incredibly helpful, thank you. My 1040 line 15a shows the contributed/converted amount, and the 8606 does indeed show the contribution on line 1, as it should because the funds were non-deductible. One more question: where do we account for the earnings/loss between when the money was contributed, c...
by ljwobker
Mon Mar 07, 2016 4:17 pm
Forum: Personal Finance (Not Investing)
Topic: Accounting for TIRA-> Roth-> TIRA in different tax years?
Replies: 3
Views: 439

Accounting for TIRA-> Roth-> TIRA in different tax years?

Background is in this post: https://www.bogleheads.org/forum/viewtopic.php?f=2&t=185956, but this is really more of a tax accounting/reporting and a question as it relates to the timing of things. Below, I've tried to put the dates in bold so it's more obvious what I'm asking... I find myself he...
by ljwobker
Thu Mar 03, 2016 2:37 pm
Forum: Personal Finance (Not Investing)
Topic: Backdoor Roth with unanticipated balance in traditional IRA...
Replies: 6
Views: 617

Re: Backdoor Roth with unanticipated balance in traditional IRA...

One concern of mine is that IF I just keep the conversion, doesn't that effectively "poison" the pre-tax nature of the funds in the TIRA? Or, if I do keep the 2015 conversion and then I roll all of those funds into a 401k, how does that work from a basis tracking standpoint? Does paying th...
by ljwobker
Thu Mar 03, 2016 10:25 am
Forum: Personal Finance (Not Investing)
Topic: Backdoor Roth with unanticipated balance in traditional IRA...
Replies: 6
Views: 617

Re: Backdoor Roth with unanticipated balance in traditional IRA...

The fact that that you had no other traditional IRA's at the time of the Roth conversion is not relevant. Sigh, I was pretty sure that was going to be the answer. Do you have a 401k that accepts rollovers? If so, do that. I will eventually, but not before Apr 15 of this year. How time sensitive is ...
by ljwobker
Wed Mar 02, 2016 5:26 pm
Forum: Personal Finance (Not Investing)
Topic: Backdoor Roth with unanticipated balance in traditional IRA...
Replies: 6
Views: 617

Backdoor Roth with unanticipated balance in traditional IRA...

Here's my particular scenario: - Have been doing backdoor Roth contributions/rollovers for multiple years - Began Jan 1 2015 with a zero balance in Traditional IRAs - In March '15, did a 5500 contribution to Traditional IRA and then converted it into a Roth a couple of days later. (Same as all the o...
by ljwobker
Fri Feb 12, 2016 9:55 am
Forum: Personal Finance (Not Investing)
Topic: Roth IRA withdrawls of contributions - how to account/track?
Replies: 14
Views: 1044

Re: Roth IRA withdrawls of contributions - how to account/track?

The mega backdoors are basis in the Roth IRA just like a conversion is basis in the Roth IRA. But you need to track regular contribution basis separately from conversion basis because Form 8606 requires the type of basis to be recorded on separate lines (line 22 for regular and 24 for conversion ba...
by ljwobker
Fri Feb 05, 2016 3:52 pm
Forum: Personal Finance (Not Investing)
Topic: Roth IRA withdrawls of contributions - how to account/track?
Replies: 14
Views: 1044

Re: Roth IRA withdrawls of contributions - how to account/track?

OK - helpful and I'm making at least some progress finding the records I need. One question/confirmation: in a number of cases I have done the "mega-backdoor" - are you saying that after 5 years I can treat that entire conversion as basis? Or do I still have to track the component of that ...
by ljwobker
Thu Feb 04, 2016 11:37 pm
Forum: Personal Finance (Not Investing)
Topic: Roth IRA withdrawls of contributions - how to account/track?
Replies: 14
Views: 1044

Re: Roth IRA withdrawls of contributions - how to account/track?

Argh. Is there any chance that the custodians are required to keep this information intact as money flows around? I'd like to think I keep pretty good records, but I don't have every tax form from 15+ years ago to tell me whether the last year I made a "regular contribution" was 2000 or 20...
by ljwobker
Thu Feb 04, 2016 11:03 pm
Forum: Investing - Help with Personal Investments
Topic: Roth IRA basis
Replies: 23
Views: 7279

Re: Roth IRA basis

I'm re-opening/bumping this thread because I have *exactly* the same question as madbrain does immediately above me...
by ljwobker
Thu Feb 04, 2016 11:00 pm
Forum: Personal Finance (Not Investing)
Topic: Roth IRA withdrawls of contributions - how to account/track?
Replies: 14
Views: 1044

Re: Roth IRA withdrawls of contributions - how to account/track?

See Fairmark's Roth distribution page: http://fairmark.com/retirement/roth-accounts/roth-distributions/ See Alan S post on Roth IRA Basis: https://www.bogleheads.org/forum/viewtopic.php?p=1478231#p1478231 No, don't use the 8606 form by itself. I know your post was about Roth IRA. Do you have any as...
by ljwobker
Thu Feb 04, 2016 10:43 pm
Forum: Personal Finance (Not Investing)
Topic: Roth IRA withdrawls of contributions - how to account/track?
Replies: 14
Views: 1044

Roth IRA withdrawls of contributions - how to account/track?

I'm starting to think about how to fund my retirement before I get to the normal 401k/IRA 59 1/2 year old stuff. One potentially attractive idea would be to start taking funds out of my Roth IRA accounts, as they are penalty free when you withdraw the contributions (the earnings must be left in the ...
by ljwobker
Sun Dec 22, 2013 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: job change, 401k and IRA questions...
Replies: 3
Views: 256

job change, 401k and IRA questions...

Income is too high to contribute directly to a Roth, but I do a Traditional->Roth backdoor each year. I have a significant amount of money in an employer 401k account, and absent other concerns, if I changed jobs I would just roll this over into an IRA. I'm trying to understand if: 1) there's any re...
by ljwobker
Wed Jan 30, 2013 4:54 pm
Forum: Personal Finance (Not Investing)
Topic: withdrawl from 401k before 59 1/2?
Replies: 3
Views: 742

withdrawl from 401k before 59 1/2?

I'm having trouble finding anything on the interwebz that covers this... but is there a general consensus as to whether starting withdrawls (via the SEPP method) from a 401k is a reasonable part of an early retirement? It's pretty clear to me that after 59.5 (assuming the funds are built up) you get...
by ljwobker
Fri Sep 07, 2012 9:29 pm
Forum: Personal Finance (Not Investing)
Topic: 401k -> tIRA -> Roth IRA vs 401k -> Roth IRA
Replies: 8
Views: 1260

Re: 401k -> tIRA -> Roth IRA vs 401k -> Roth IRA

I got an email back today from TDA that implied they WILL accept direct transfers from a 401k into a Roth IRA... so I'm going to double check and explictly show them the URL where it says "no"... maybe there's some details missing or maybe the link is just wrong... I'll post back once I ge...
by ljwobker
Fri Sep 07, 2012 5:27 pm
Forum: Personal Finance (Not Investing)
Topic: 401k -> tIRA -> Roth IRA vs 401k -> Roth IRA
Replies: 8
Views: 1260

Re: 401k -> tIRA -> Roth IRA vs 401k -> Roth IRA

Short version: this entire conversation involves only after tax money. Longer version: I am indeed talking of an in-service rollover of after-tax 401k funds. Unless I've lost my mind this removes the concerns about this not being the "right" decision... Regarding the TDA issue: from: https...
by ljwobker
Fri Sep 07, 2012 8:47 am
Forum: Personal Finance (Not Investing)
Topic: 401k -> tIRA -> Roth IRA vs 401k -> Roth IRA
Replies: 8
Views: 1260

401k -> tIRA -> Roth IRA vs 401k -> Roth IRA

My IRA provider (TDAmeritrade) does not allow direct roll-in's from my 401k plan, so I'm left with two suboptimal choices... 1) roll the 401k into a traditional IRA, then roll that into a Roth, all at TDA. 2) open a new Roth IRA somewhere that does allow direct roll-ins, then roll THAT Roth IRA into...
by ljwobker
Tue Sep 04, 2012 12:37 pm
Forum: Personal Finance (Not Investing)
Topic: after-tax 401k contributions into Roth... couple more Q's...
Replies: 5
Views: 582

Re: after-tax 401k contributions into Roth... couple more Q'

Sorry - I really meant to ask about isolating the basis from the existing 401k funds. That account will have a significant amount of pre-tax money in it... my confusion is with whether/how I need to isolate the pre-tax vs. after-tax funds from that account. I've re-read the Fairmark article and it's...
by ljwobker
Tue Sep 04, 2012 9:35 am
Forum: Personal Finance (Not Investing)
Topic: after-tax 401k contributions into Roth... couple more Q's...
Replies: 5
Views: 582

Re: after-tax 401k contributions into Roth... couple more Q'

From: http://www.tdameritrade.com/faq/transfer.html *At this time, TD Ameritrade is unable to directly roll over a qualified retirement plan to a Roth IRA. Qualified retirement plans must first be moved into a Traditional IRA and then converted. The main question I'm still looking for help with is w...
by ljwobker
Mon Sep 03, 2012 10:27 pm
Forum: Personal Finance (Not Investing)
Topic: after-tax 401k contributions into Roth... couple more Q's...
Replies: 5
Views: 582

after-tax 401k contributions into Roth... couple more Q's...

So thanks to the nameless dozens whose posts I've been reading... I've just about convinced myself that taking a large chunk of salary and going the after-tax-401k --> Roth IRA path makes sense for me. I'd love to have people shoot holes in my logic if they exist, or confirm that what I understand i...
by ljwobker
Mon Sep 03, 2012 9:52 pm
Forum: Personal Finance (Not Investing)
Topic: 401k choices...
Replies: 10
Views: 1156

Re: 401k choices...

any chance your company offers a "self directed" approach? This is basically an account where you make your own investment decisions with the money that's in the account... you can buy (almost) any security within the account and still get the tax benefits. I do that with mine, and I basic...
by ljwobker
Wed Mar 10, 2010 11:27 am
Forum: Personal Finance (Not Investing)
Topic: HSA contributions: how to manage early-year expenses?
Replies: 4
Views: 845

Yeah, I think the easiest thing is to just pay from taxable funds up front, then just wait until the payroll deduction "catches up" and reimburse myself. I was used to the FSA where (at least in our version) the full amount you intended to contribute via payroll deductions was immediately ...
by ljwobker
Wed Mar 10, 2010 10:17 am
Forum: Personal Finance (Not Investing)
Topic: HSA contributions: how to manage early-year expenses?
Replies: 4
Views: 845

HSA contributions: how to manage early-year expenses?

This is our first year on the HSA, so still figuring things out. ;-( I'm setup for payroll deduction to the tune of $5k -- obviously spread out across the whole year. Our max out-of-pocket deductible for medical is $3k. I need to have (thankfully minor) surgery early this year, which will use the en...
by ljwobker
Sat Dec 06, 2008 5:49 pm
Forum: Investing - Help with Personal Investments
Topic: thoughts on depressed muni prices?
Replies: 8
Views: 2286

thoughts on depressed muni prices?

I'm looking for what people think about adding to positions in munis, specifically in the muni CEF funds that have been significantly depressed in price recently. I've got moderately large positions in several muni CEFs already (and some of them have gotten completely whacked) and I'm trying to figu...

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