answersLogoWhite

0

You can have as many Roth IRAs as you like. However, total contributions for all accounts must not exceed the annual maximum contribution.

User Avatar

Wiki User

10y ago

What else can I help you with?

Related Questions

What is the penalty for contributing more than the maximum to a Roth IRA?

Contributing more than the maximum into a Roth IRA will result in a 6% excise tax. The 6% tax applies only to the amount which one has over contributed.


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.


Where can one use Roth IRA calculators for free?

A Roth IRA calculator is used to calculate the total value of one's Roth IRA. Free Roth IRA calculators are offered by the websites Bankrate, Roth IRA, Money Chimp and Calculator Pro.


Why is the Roth IRA better than a traditional IRA?

The Roth IRA is not necessarily better per se than a traditional IRA. Whether one or the other is a better choice for you depends on current and expected marginal income.


Where online can one learn about Roth IRA funds?

One can find information about Roth IRA funds at the official Roth IRA website. On the website one can find a complete Roth IRA guide, FAQs and many other helpful information.


Is it possible for me to open more than one Roth IRA account?

Yes, it is possible for you to open and contribute to multiple Roth IRA accounts, but the total annual contribution limit applies to all accounts combined.


What are ROTH IRA taxes and how can I apply ?

A Roth IRA allows you to make deductions that are tax free. I would speak to an investment agent to apply for a Roth IRA, as well as receive more detailed information about the benefits of having one.


Can you transfer a Roth IRA to another Roth IRA?

Yes, you can transfer a Roth IRA to another Roth IRA through a process called a direct transfer or a rollover. This allows you to move your funds from one Roth IRA account to another without incurring taxes or penalties.


What is a cheap way to transfer my 401k to Roth ira?

First you need to do a 401k rollover to Roth account. You will need to open a Roth IRA account. Do a 401k rollover to a Roth IRA online with any brokerage firm online. If you do find a brokerage firm that wants to charge you a fee to do a 401k rollover to a Roth IRA then pick a different one. You can get more assistance or help with more information by visiting http://hubpages.com/hub/401k-rollover-to-roth-ira


Where can one find the information about 'Roth IRA Distributions' online?

Information pertaining to Roth IRA distributions can be found online at the Investopedia and the Roth IRA website. Both websites provide valid information pertaining to his or her Roth IRA Distributions.


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.


What are the properties of Roth IRA education?

Although classes about Roth IRAs will be slightly different depending on which one one chooses, there will be many common properties between them all. Education about a Roth IRA will include information about what a Roth IRA is, how it differs from a traditional IRA, investment strategies, allowed withdrawals from the IRA, and tax implications.