With a Roth IRA for Kids, an adult maintains control of the account until the child reaches a certain required age in which control must be transferred (typically 18 or 21, depending on the state where the minor lives).Most children, whether they are teenagers or younger, don't spend ...
But it looks like your MAGI is less than 100K in either scenario so a Roth IRA conversion should be possible for you. Though you may have to pay taxes at your marginal rate that you submit in your US tax return. Reply JGSoff Apr 8, 2012 at 7:05 PM Question about tax ...
But all things being equal, you would rather have the stock index funds in your taxable account because, A, they're very tax efficient and, B, later on we may be able to pay those taxes at a lower rate, either, you're at the 0% long-term capital gains tax rate or again, the s...
as there is no available cash outside of IRAs to use to pay the tax on the conversion. Taking the cash from the IRA in the form of a distribution can result in a 10% penalty,
funds are subject to required minimum distributions (RMDs) once the participant who has left employment reaches age 70½, just like traditional 401(k) funds, but unlike the Roth IRA. This can be side-stepped by rolling over the funds from your Roth 401(k) account to a Roth ...