The Motley Fool Discussion Boards

Previous Page

Investing/Strategies / Retirement Investing


Subject:  Re: Roth Date:  9/3/1999  9:52 AM
Author:  Goldstucker Number:  13634 of 88063

So, to sum up. If you exceed the Roth AGI, you can recharacterize the contribution as a non-traditional IRA contribution (which would be part of your taxable income - because you have exceeded all AGI requirements) but would still acumulate interest tax free until distribution (assume this because its call a non-tradition IRA).

Does this require a new account to be setup (Roth, IRA, Non-traditional IRA)? How do you bookkeep that taxed contribution. You've already paid taxes on it. You shouldn't have to pay taxes at distribution. Do you keep a copy of tax return with account statement? Your co-mingling taxed deferred and taxed contributions. Yes you can recharacterize but were do you move the money?
Copyright 1996-2018 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us