answersLogoWhite

0

Roth IRA rules haven't changed much over the years. If you would like to open a roth ira you would need to follow a few rules. First you would need to make an initial investment of at least $1000. You also must make under $105,000 if on your own and $166,000 if jointly.

User Avatar

Wiki User

13y ago

What else can I help you with?

Related Questions

What Roth IRA rules do you need to know?

The best source to find out about what Roth IRA rules that you need to know would be to go to the IRS. They have detailed rules on the rules and regulations of a Roth IRA.


Can you convert a regular IRA to a Roth IRA even if you earn over the Roth limits for contributing to it?

Yes, you can do this under current IRS rules. The rules behind this are fairly complicated, but it's allowable (maybe the correct term is that it's not disallowed).


What exactly are roth IRA rules?

The IRA rules tell you about what it is, what the rates would be and contribution limits.


What are the Roth IRA rules as of April 2011?

There are many new ROTH IRA rules as of April 2011. For example, contribution limits and conversion rules have been modified. In order to fully benefit from your ROTH IRA it is suggested that you see your broker or the banking institution you have your account with.


How can I rollover my Roth IRA to another Roth IRA?

To rollover your Roth IRA to another Roth IRA, you can directly transfer the funds from one account to the other. Contact the financial institution where you want to move your Roth IRA and they can help facilitate the transfer. Make sure to follow IRS rules to avoid penalties.


How does an after tax IRA reduce your tax bill?

An after-tax IRA (a Roth IRA) will not reduce your taxes in the current year. You will not get any kind of deduction on your current taxes for contributions to a Roth IRA. However, when you retire the distributions from the Roth IRA will be tax free. A Traditional IRA will give you a deduction on your current year taxes, but the distributions will be taxed as income when you retire.


Is there a webpage that tells me roth ira rules?

There is a website called rothirarules.net. This webpage seems to give one adequate information about the rules that apply to rolling funds into a roth IRA.


How can I rollover my 401k to a Roth IRA and then withdraw the funds?

To rollover your 401k to a Roth IRA, you will need to initiate a direct transfer from your 401k account to the Roth IRA account. Once the funds are in the Roth IRA, you can withdraw them according to the rules and regulations set by the IRS. Keep in mind that withdrawing funds from a Roth IRA may have tax implications, so it's important to understand the rules before making any withdrawals.


How can I roll over my Roth IRA to another Roth IRA?

To roll over your Roth IRA to another Roth IRA, you can directly transfer the funds from one account to the other. Contact the financial institution where you want to move your Roth IRA and they can help you initiate the transfer process. Make sure to follow the IRS rules to avoid any penalties.


Where can one find information on IRS Roth IRAs?

You can find information of Roth IRAs on the official IRS website. There you will find information about how a Roth IRA is different from a traditional IRA, and the rules that apply to a Roth IRA. For more detailed information, there is a website called RothIRA, which is the complete guide to Roth IRAs; it has information about what a Roth IRA is, how to get started, and more.


How can I rollover my Roth 401k to a Roth IRA and then make a withdrawal?

To rollover your Roth 401k to a Roth IRA, you need to contact your plan administrator and complete the necessary paperwork. Once the rollover is complete, you can make a withdrawal from your Roth IRA following the withdrawal rules and regulations set by the IRS to avoid penalties.


How do you convert to a Roth IRA?

You can convert to a Roth IRA when you transfer some or all of your existing balance to a Roth IRA. However, though it is regardless of income, some income-eligibility restrictions still apply to current year contributions.