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non-deductible IRA

A type of individual retirement savings account which allows contributions that cannot be deducted when filing income tax forms. For example, a Roth IRA does not allow tax deductible contributions; however, the balance in the account may grow tax-free while funds remain in the account. In typical company-sponsored plans, an employee is allowed tax deductible contributions only if his adjusted gross income is below a specific amount.

Related information about non-deductible IRA:
  1. Non-deductible Traditional IRA - Bogleheads
    Nov 15, 2012 ... If you contribute to a non-deductible IRA you are required to file and retain a copy of IRS Form 8606. In addition to satisfying the IRS, it is ...
     
  2. How To Convert A Non-Deductible IRA Into A Roth IRA
    Oct 9, 2012 ... Here's a step-by-step guide for transferring one retirement plan into another.
     
  3. The Non-Deductible IRA Trap -- and the Fix - TheStreet
    Jan 31, 2012 ... If you have ever made nondeductible IRA contributions, you should start thinking about the lowest-taxed way to get your money out.
     
  4. Non-Deductible IRA Contribution & Roth IRA Conversion Rules ...
    Feb 14, 2012 ... Can I convert my non-deductible IRA to a Roth IRA? In 2010, the previous $100,000 income limit for Roth IRA conversions was removed.
     
  5. When You're Over The Limit - Non Deductible IRA Contributions
    Due to certain income limits, not every worker is eligible to make a deductible contribution to a regular IRA. A subset of this group may be permitted to make a ...
     
  6. I Maxed Out My Retirement Funds—What Now? LearnVest
    Feb 23, 2012 ... And this time around, after maxing out your existing accounts, you can actually keep contributing—by opening a non-deductible IRA.
     
  7. Nondeductible IRAs: Worth the Hassle?
    Jan 26, 2009 ... This article fails to mention that if you are an active trader, say 1-2 trades a month, a non-deductible IRA is great b/c you wouldn't pay taxes on ...
     
  8. The importance of tracking non-deductible IRA contributions ...
    Jan 3, 2012 ... In 2012, people under the age of 50 can contribute up to $5000 per year to their Individual Retirement Accounts (IRAs) and people age 50 and ...