Roth 爱尔兰共和军 Contribution and Investment Selection Form (PDF)
One of the immediate benefits of contributing to a Traditional 爱尔兰共和军 is a tax deduction you can receive on your income taxes. 截至12月31日的纳税年度, 2023, you may receive a 100% deduction on your annual contribution if:
截至12月31日的纳税年度, 2024, you may receive a 100% deduction on your annual contribution if:
If you participate in an employer plan, 爱尔兰共和军 deductibility is gradually phased out above these income levels.
If you reach the age of 50 before the end of the taxable year, you may be eligible to contribute an additional catch-up contribution to your Traditional and/or Roth 爱尔兰共和军. For tax year 2006 and beyond, the annual amount is $1,000.
The deadline to contribute to a Traditional 爱尔兰共和军 for a particular tax year is generally 4月15日 (or tax day) of the following year. When this date occurs on a weekend or a legal holiday, the following business day becomes the deadline.
When you contribute to your 爱尔兰共和军 between January 1 and 4月15日 (or Tax Day) for the previous tax year, it’s referred to as a “carryback” or “prior year” contribution.
截至12月31日的纳税年度, 2023, the deadline to contribute a carryback contribution is Tax Day, 4月15日, 2024.
A SEP is a type of retirement plan that allows an employer to contribute to employees’ Traditional 爱尔兰共和军s. SEP contributions are subject to different contribution limits than Traditional 爱尔兰共和军 contributions. Once the employer makes a SEP plan contribution to an 爱尔兰共和军, the contribution becomes an 爱尔兰共和军 asset and is subject to all the regular 爱尔兰共和军 rules and regulations. There are several other benefits of SEP plans:
是的! A non-deductible contribution gets you one step closer to a secure retirement. It grows tax-deferred and is tax-sheltered until you withdraw it.
You should file a 8606 form to track your non-deductible contributions.
You may receive a non-refundable tax credit (not to exceed $1,000) for contributions made to Traditional and Roth 爱尔兰共和军s. 如果你符合条件, the tax credit equals the applicable percentage on up to $2,000 of a “qualified retirement savings contribution” which includes annual Traditional and Roth 爱尔兰共和军 contributions. 资格要求包括:
See the chart below for eligible income levels and the applicable percentage used to calculate the tax credit:
| 联合返回 | 户主 | 所有其他个案 | 适用的比例 | |||
| 在 | 没有结束 | 在 | 没有结束 | 在 | 没有结束 | |
| $0 | $37,000 | $0 | $27,750 | $0 | $18,500 | 50% |
| $37001 | $40,000 | $27,751 | $30,000 | $18,501 | $20,000 | 20% |
| $40,001 | $62,000 | $30,001 | $46,500 | $20,001 | $31,000 | 10% |
| $62,000 | $46,500 | $31,000 | 0% | |||
Please consult a tax professional if you have further questions.
You can contribute if you have earned income from employment equal to or greater than your 爱尔兰共和军 contribution.
2024纳税年度, 捐款限额为7美元,000年和, 如果你是50岁或以上, 你还可以多赚1美元,000 catch-up contribution for a combined total of $8,每年000.
Unlike most employer retirement plans in which access to funds is limited to such events as change of employment, 计划终止, 达到退休年龄, 死亡, 或残疾, 获得您的爱尔兰共和军资金是有保证的, 总是. 然而, until age 59 1/2 there is a 10 percent early distribution penalty and you may be taxed on the amount withdrawn unless you qualify for an exemption due to one of the following reasons:
You can move your 爱尔兰共和军 from one financial organization to another provided that your 爱尔兰共和军 assets are:
Note: The IRS permits one rollover deposit in a 12-month period for all 爱尔兰共和军 accounts. This limitation doesn’t apply to Roth conversions or institution transfers
从1月1日开始, 2023, the Required Beginning age to take a Required Minimum Distribution (RMD) increased to 73 years old for 爱尔兰共和军 owners who will turn 73 in 2023. RMDs are generally based on your 爱尔兰共和军 balance divided by your life expectancy, either singly or jointly with your 爱尔兰共和军 beneficiary. 爱尔兰共和军s are meant to provide for retirement, so if you don’t take your required distributions, you’ll be subject to a substantial penalty.
Contributions made by an employer through a retirement plan known as a simplified employee pension (SEP) are actually contributed to a Traditional 爱尔兰共和军, and they can be combined with regular 爱尔兰共和军 contributions. 2002年生效, after-tax assets from a “qualified retirement plan” and assets held in governmental 457 plans are eligible for rollover to a Traditional 爱尔兰共和军. To protect the option of someday moving them to another employer plan, such assets are often best kept in a separate 爱尔兰共和军 that contains no other contributions.
Single tax filers may contribute up to the maximum allowable per year if their modified adjusted gross income (MAGI) is less than $146,000. If a single tax filer’s MAGI is between $146,000元及161元,000, they may contribute a reduced amount adjusted for their income. Married couples filing jointly may each contribute up to the maximum allowable if their MAGI is less than $230,000. Contributions for joint filers are reduced for MAGI between $230,000年和 $240,000.
Roth 爱尔兰共和军 contributions may not be made by single tax filer’s with MAGI of more than $161,000 or couples with MAGI of more than $240,000.
2024纳税年度, 捐款限额为7美元,000年和, 如果你是50岁或以上, 你还可以多赚1美元,000 catch-up contribution for a combined total of $8,每年000.
You may make tax-free and penalty-free withdrawals from your Roth 爱尔兰共和军 if you satisfy two conditions. First, your Roth 爱尔兰共和军 must have been open for a minimum of five years. Second, the withdrawal must be made because of the occurrence of one of the following events:
Distributions that meet the above requirements are referred to as “qualified distributions.” While you may take distributions from your Roth 爱尔兰共和军 at any time, distributions which are not qualified distributions may be subject to taxes (and in some cases early distribution penalties) to the extent they exceed your aggregate contributions to Roth 爱尔兰共和军s.
If you reach the age of 50 before the end of the taxable year, you may be eligible to contribute an additional catch-up contribution to your Traditional and/or Roth 爱尔兰共和军. For tax year 2006 and beyond, the annual amount is $1,000.
The deadline to contribute to a Roth 爱尔兰共和军 for a particular tax year is generally 4月15日 (or tax day) of the following year. When this date occurs on a weekend or a legal holiday, the following business day becomes the deadline. Tax return extensions will not affect this deadline.
When you contribute to your 爱尔兰共和军 between January 1 and 4月15日 (or Tax Day) for the previous tax year, it’s referred to as a “carryback” or “prior year” contribution.
截至12月31日的纳税年度, 2023, the deadline to contribute a carryback contribution is Tax Day, 4月15日, 2024.
The money you contribute to a Roth 爱尔兰共和军 has already been taxed. As long as you stay within the contribution guidelines, the principal amount is never subject to future taxes or penalties.
Roth 爱尔兰共和军 contributions grow tax deferred. If you do not withdraw any of the earnings until you have had the Roth 爱尔兰共和军 for at least five (5) years and have a qualifying event, those tax-deferred earnings become tax-free.
Unlike the Traditional 爱尔兰共和军, there are no required minimum distributions at age 73. Your earnings can continue to grow until you need them. There are special requirements when these plans pass to your beneficiaries.
是的. You may convert assets from a Traditional 爱尔兰共和军 to a Roth 爱尔兰共和军. You must pay tax on any previously untaxed dollars converted from the Traditional 爱尔兰共和军 to the Roth 爱尔兰共和军, but the 10 percent early distribution penalty doesn’t apply to the conversion amount. You should seek advice from a tax professional to determine whether converting pretax retirement assets is beneficial.
