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Viewing profile - flyboy73

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flyboy73
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Joined: Sat Feb 02, 2013 3:40 pm
Last visited: Wed Mar 20, 2013 12:53 am
Total posts: 6
[0.01% of all posts / 0.00 posts per day]
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Most active forum: Personal Finance
[ 6 Posts / 100.00% of user’s posts ]
Most active topic: Roth IRA double contributions in one year error
[ 5 Posts / 83.33% of user’s posts ]

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flyboy73 Posts

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 Forum: Personal Finance   Topic: Roth IRA double contributions in one year error

Posted: Thu Feb 07, 2013 5:50 pm 

Replies: 11
Views: 3463


I'm going to bring this up with my parent's tax preparer when he does their 2012 taxes. I have been doing my own simple taxes myself with Turbotax the past few years, but he was the professional in charge of the returns in question here, so I trust he can offer the right advice. I'm hoping that even...

 Forum: Personal Finance   Topic: Roth IRA double contributions in one year error

Posted: Tue Feb 05, 2013 9:03 pm 

Replies: 11
Views: 3463


I don't know why this didn't occur to me sooner, but as my 1040s for 2003 and 2004 indicate, there really is no excess contribution at all, which is what this situation boils down to, the possibility of penalties and taxes on "ill gotten" gains. $3,000 was deposited in April 2004 in one Ro...

 Forum: Personal Finance   Topic: Roth IRA double contributions in one year error

Posted: Mon Feb 04, 2013 11:22 pm 

Replies: 11
Views: 3463


I have pulled out my 1040s for 2003 and 2004, to reconcile with what I see on my 5498s and the IRA adoption agreements in finding if anything is amiss. It turns out that I actually had an entry in my 2003 1040 IRA worksheet for the $3,000 in the first fund (Columbia Acorn Fund). This is the fund I c...

 Forum: Personal Finance   Topic: Roth IRA double contributions in one year error

Posted: Sun Feb 03, 2013 4:28 pm 

Replies: 11
Views: 3463


Hi, I have kept the 5498s, as well as a copies of the documents I filled out along with an image of my paper checks, for all my ROTH IRA contributions in the past. Good thing I did! For just about every year, my practice was to contribute the max amount in one installment for the prior tax year. So,...

 Forum: Personal Finance   Topic: Roth IRA double contributions in one year error

Posted: Sat Feb 02, 2013 3:42 pm 

Replies: 11
Views: 3463


Hi folks, I had recently done some digging into my Roth IRA portfolio just to monitor fund performance and sector allocation, something I regretfully have ignored for the past 14 years I have been invested in a Roth. My portfolio is all mutual funds, mostly active large cap stock funds from a few di...
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