If i'm putting away $333.33 a month (for an annual total of $4,000), but I have the occasional dividend income reinvestment for my roth IRA, do I have to decrease my year-end contribution to compensate for this extra reinvestment?? Thanx!
2007-01-23 01:30:19 · 4 answers · asked by CSUflyer 3 in Business & Finance ➔ Personal Finance
No.
The only thing that counts is if you transfer money from outside the IRA in.
Any money the IRA generates by itself doesn't count. That included capital gains, dividends, interest - anything.
-->Adam
2007-01-23 03:18:18 · answer #1 · answered by great_and_mighty_adam_levine 4 · 0⤊ 0⤋
First if you rollover a 401k to Roth IRA you would be responsible for taxes not paid + taxes on interest from the 401k. If you roll it into a regular IRA it does not count against your current years contribution max (since this was really previous contributions) nor would you have to pay taxes.
2016-03-28 22:35:11 · answer #2 · answered by Anonymous · 0⤊ 0⤋
No.
Those are considered earnings...not contributions.
2007-01-23 06:19:54 · answer #3 · answered by derek 4 · 0⤊ 0⤋
No, they do not count.
2007-01-23 01:40:04 · answer #4 · answered by gosh137 6 · 0⤊ 0⤋