Message Font: Serif | Sans-Serif
UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next
Author: TwoCybers 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 19597  
Subject: Re: SEP v.s. IRA Withdrawals Date: 3/10/2000 8:36 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Once the money is withdrawn, I can't see any difference, so I am going to assume you mean mixing a SEP account and an IRA account. The basic problem is once funds are mixed or comingled, it is not possible to separate the funds, at least that is the government's position. So if you comingle, you are giving up the right to do something specific with your IRA funds that you could not do with your SEP funds of visa versa.

Today from my view point there are no meaningful differences or advantages for me. However Congress can pass laws to change things. For example I don't know if you can transfer SEP funds into a Roth IRA. You can transfer other IRA funds into a ROTH IRA.

If you comingle SEP and IRA funds, and you can not convert a SEP to a Roth IRA -- then the comingling or mixing has prevented you from converting any of your funds into a Roth IRA.

Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next


Kiddie Card Board
Should kids have their own credit card?
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.
Post of the Day:
Macro Economics

The Wealth of Power
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
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 Glassdoor #1 Company to Work For 2015! 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.