Message Font: Serif | Sans-Serif
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next
Author: TMFTaxes Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121061  
Subject: Re: Roth IRA Date: 10/3/1997 12:16 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 1
<<How does one designate a contribution/investment 'Roth IRA'?>>

I'm sure that you will have separate paperwork to complete with the financial institution in question. Since the Roth provisions don't become effective until 1998, it is a little early to know exactly. But you can be assured that the paperwork that you complete with the bank/brokerage firm will specifically identify the contribution and/or rollover.

<<I have a f-f portfolio, and would like to use this for retirement?>>

Is this a question or a statement? Nothing will prohibit you from using the Foolish 4 in a Roth IRA account.

<< What about account keeping? Does someone audit these?>>

Since how the funds "earn" within the IRA (either Roth or regular)is immaterial, so the recordkeeping is not as stringent as you are used to. And yes, it is possible that the IRA will be subject to audit. But the questions that will be asked will deal with the eligilibility of the contribution/rollover, and NOT how the funds had grown.

TMF Taxes
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next


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

Medallion Financial: TAXI!
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.