Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (11) | Ignore Thread Prev | Next
Author: GBWells Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121095  
Subject: Converted Roth versus new Roth Date: 12/31/1997 7:49 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Do you recommend adding new money to a converted Roth IRA? Or should IRA money for 1998 and beyond be added to a newly established Roth IRA? My questions arise from The Evening News from December 31:

"It should be noted, however, that funds rolled over into a Roth IRA from a traditional IRA come under greater restrictions for penalty-free and tax-free distributions."

This sentence states that a converted Roth will be treated differently from new Roth IRA. It seems that it might be to one's advantage to start a new Roth IRA that is completely separate from one's converted Roth IRA in order to more easily handle the paperwork for these distributions.
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (11) | Ignore Thread Prev | Next

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
Post of the Day:
Value Hounds

Mylan Transitioning from Generics
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement