1. And... we're back. You'll notice that all of your images are back as well, as are our beloved emoticons, including the infamous :foo: We have also worked with our server folks and developers to fix the issues that were slowing down the site.

    There is still work to be done - the images in existing sigs are not yet linked, for example, and we are working on a way to get the images to load faster - which will improve the performance of the site, especially on the pages with a ton of images, and we will continue to work diligently on that and keep you updated.

    Cheers,

    Fok on behalf of the entire Styleforum team
    Dismiss Notice

Talking stocks, trading, and investing in general

Discussion in 'Business, Careers & Education' started by mikeman, Feb 2, 2011.

  1. otc

    otc Senior member

    Messages:
    14,207
    Joined:
    Aug 15, 2008
    One further possibility--I believe some employer 401ks accept rollovers from an IRA.

    If you could do that, you could regain access to the backdoor. Move your IRA into your 401k (assuming it has good fund options), and then you should be free to start going back to the Roth (might have to wait until the next tax year though).
     
    1 person likes this.
  2. otc

    otc Senior member

    Messages:
    14,207
    Joined:
    Aug 15, 2008
    

    Can't identify contextual hints, clearly.
     
    Last edited: Mar 20, 2017
  3. brokencycle

    brokencycle Senior member

    Messages:
    9,590
    Joined:
    Nov 21, 2008
    Location:
    The Old North State
    

    Damn. I need to check that out. I rolled over my old 401k from a previous employer.
     
  4. idfnl

    idfnl Senior member

    Messages:
    14,339
    Joined:
    Dec 6, 2008
    Location:
    VA
    

    Well then I guess I can't. Carry on.
     
  5. Piobaire

    Piobaire Senior member

    Messages:
    50,197
    Joined:
    Dec 5, 2006
    Location:
    In My Douchemobile
    

    Seems a rollover IRA is exempt from the calculation and it specifically targets only Trad IRAs that you contributed to prior to reaching the income phase out for the tax deduction. So even if all you have is 200k you end up with:

    5.5/200 = 2.75%

    2.75% x $5500 = $151

    So $151 of that back door ROTH doesn't get taxed and you have to add the remainder onto this year's taxes. So you contribute with post tax dollars, convert, and then pay tax again on 97.25% of the conversion! No thanks.
     
  6. otc

    otc Senior member

    Messages:
    14,207
    Joined:
    Aug 15, 2008
    Rollovers don't count? That's neat.
     
  7. Piobaire

    Piobaire Senior member

    Messages:
    50,197
    Joined:
    Dec 5, 2006
    Location:
    In My Douchemobile
    Pretty sure but consult your tax adviser. ;)

    I'll still stop by and see my guy over the summer to make sure I've got this all correct. That IRS form I linked to though, if you just read through the first 10 entries, pretty much confirms my math above is correct.
     
  8. UnFacconable

    UnFacconable Senior member

    Messages:
    1,173
    Joined:
    Jan 22, 2007
    Everything I've seen indicates that rollover 401(k)s count just the same as pre-tax contributions to trad IRAs.

    Piob - are you perhaps thinking of the fact that rollovers don't impact your contribution limits but I am not aware of anything that would segregate portion of your trad IRA that came from direct contributions vs 401(k) rollover. I would definitely check that one more closely with tax advisor.

    I wish that you were correct however as the only thing keeping me from rolling a couple of legacy 401(k)s is losing the ability to tax efficiently do a roth conversion annually.
     
    Last edited: Mar 20, 2017
    1 person likes this.
  9. Piobaire

    Piobaire Senior member

    Messages:
    50,197
    Joined:
    Dec 5, 2006
    Location:
    In My Douchemobile
    Yeah, it's esoteric enough I think an official ruling is needed here. I'm pretty sure though I'm going to find out my previous research answer, that's it's not worth it for me, is going to roll up again. Thank god Mrs. Piob took that government job with not only a DB pension but also a 457 with some nice, low cost index funds.
     
    1 person likes this.
  10. brokencycle

    brokencycle Senior member

    Messages:
    9,590
    Joined:
    Nov 21, 2008
    Location:
    The Old North State
    

    Make sure you ask about the rollover explicitly you know for the other 1% of us who can't afford a good CPA. ;)
     
    1 person likes this.
  11. Piobaire

    Piobaire Senior member

    Messages:
    50,197
    Joined:
    Dec 5, 2006
    Location:
    In My Douchemobile
    So WTF just happened? My entire ticker was green and suddenly it's red.
     
  12. otc

    otc Senior member

    Messages:
    14,207
    Joined:
    Aug 15, 2008
    I started working on my taxes. Fear about how the government is going to pay my YUGE refund is having a temporary effect on the market.
     
    2 people like this.
  13. idfnl

    idfnl Senior member

    Messages:
    14,339
    Joined:
    Dec 6, 2008
    Location:
    VA
    Fucking market. Sea of red.
     
  14. stimulacra

    stimulacra Senior member

    Messages:
    197
    Joined:
    Dec 30, 2009
    

    From glancing at headlines the failure to repeal the ACA might jeopardize Trump's proposed tax cuts (which gave U.S. equities a big boost).

    Anyone here have a position in CMG? They're doing pretty good today.
     
  15. venividivicibj

    venividivicibj Senior member

    Messages:
    10,840
    Joined:
    Apr 9, 2013
    Location:
    Los Angeles
    The decline in the stock market is fake news. Until trump tells me it's bad I won't believe it.
     
    1 person likes this.
  16. SkinnyGoomba

    SkinnyGoomba Senior member

    Messages:
    12,590
    Joined:
    Jan 3, 2008
    Location:
    Princeton, NJ
  17. stimulacra

    stimulacra Senior member

    Messages:
    197
    Joined:
    Dec 30, 2009
    I was set to hit another medium-sized milestone this week but oh well… hopefully just a speed bump.

    Top Republicans Say Historic Tax Cuts Ride on Health Bill Outcome
    https://www.bloomberg.com/politics/...would-endanger-tax-cut-goals-some-in-gop-warn

    “As a health-care replacement bill backed by House Speaker Paul Ryan struggles to gain support from House conservatives and Senate Republicans, some GOP lawmakers argue that a once-in-a-generation opportunity to overhaul the U.S. tax code with stout cuts in tax rates for businesses and individuals depends on the outcome. U.S. stocks have rallied since Trump’s election, with the Standard & Poor’s 500 Index reaching a record high earlier this month, buoyed in part by the expectation of corporate tax cuts. The index had declined Tuesday by almost 1 percent to 2,352.52 at 1:15 p.m. in New York.

    “If we are not able to move forward with health-care reform, it endangers tax reform,” Representative Bill Flores of Texas, a former chairman of a House conservative caucus, said in an interview Friday. “The folks that were able to tear this down would feel like they’re empowered to tear the next big project down.”
     
  18. jbarwick

    jbarwick Senior member

    Messages:
    2,973
    Joined:
    Nov 28, 2012
    That S&P streak of days without a -1% swing is in danger.
     
    1 person likes this.
  19. venividivicibj

    venividivicibj Senior member

    Messages:
    10,840
    Joined:
    Apr 9, 2013
    Location:
    Los Angeles
    Need a good down-to-earth moment every once in a while
     
  20. idfnl

    idfnl Senior member

    Messages:
    14,339
    Joined:
    Dec 6, 2008
    Location:
    VA
    

    I dont.... let this ponzi scheme go to dow 100,000 and I get out a day before the reckoning. I have a lot of biotech dogs to claw back.
     

Share This Page

Styleforum is proudly sponsored by