Well, it's a bit complicated and you may take a tax hit if you withdrawl your account completely. Are you close to retirement age? What tax bracket do you think you'll be at when you retire? You can read more about conversions here: http://www.rothirarules.net/ http://ww.rothirarules.net/roth-ira-tax.htm http://www.rothirarules.net/roth-ira-conversion.htm Good Luck
Opinions on changing your standard IRA investment to a Roth IRA vary on who you ask. www.smartmoney.com/.../should-i-convert-my-ira-to-a-roth-ira is an excellent website for information.
IRA is Roth
The estate is going to have to resolve debts. It is likely to have to be liquidated anyway.
A 401k and a IRA are different. A 401k is a employer sponsored plan while a IRA is not.
no simply i say i cant close ...........
Most firms would require a distribution form to close out/cash an IRA. If you are transferring it directly to another firm, then you would need the contra firms paperwork (filled out by receiving firm).
yes, but it would be a distribution with penalties if not needed age.
Well, it's a bit complicated and you may take a tax hit if you withdrawl your account completely. Are you close to retirement age? What tax bracket do you think you'll be at when you retire? You can read more about conversions here: http://www.rothirarules.net/ http://ww.rothirarules.net/roth-ira-tax.htm http://www.rothirarules.net/roth-ira-conversion.htm Good Luck
Can you have both a Sep Ira and a Sep Ira?
If you close the account early there will be a penalty. You need to check with your Wamu bank on the terms of the agreement. you may close it. your age will determine if you are penalized for withdrawing early. you will be taxed regardless
Fortunately, you can easily convert your traditional IRA to a Roth IRA during a given tax year. You can contact the company that operates your IRA and have them rollover the traditional IRA to the new Roth IRA.
There are many kids of IRA accounts. Traditional IRA, ROTH IRA, SIMPLE IRA and a few more are the various kinds of different IRA accounts. Traditional IRA accounts are one of the more common IRA but are also the most basic and simple to use.
Ira
Opinions on changing your standard IRA investment to a Roth IRA vary on who you ask. www.smartmoney.com/.../should-i-convert-my-ira-to-a-roth-ira is an excellent website for information.
It depends on the type of IRA you have. Distributions from a traditional IRA are taxable. Distributions from a Roth IRA are not taxable.
IRA is Roth