My wife and I have each set up an IRA to use as a passthrough to contribute the maximum amount to a Roth. She rolled over her 401k to her IRA last year. Can we still use her IRA as a passthrough to get money to our Roth or will it all be taxable now? We rolled over 401k money to the IRA and now we are being taxed on the amount we converted to the Roth. We rolled the 401k to the traditional IRA, so now the traditional IRA has a significant balance. We want to continue to deposit the maximum non-deductible contribution into the traditional IRA so we can roll it over every year to the Roth. Will we be taxed on the contribution amount or the conversion? Is there a way that we can continue to make contributions to the Roth IRA from the traditional IRA?

January 11th, 2023

I live in Missouri but work in Iowa. I am 42 years old with one dependent and file as head of household. My gross annual wages will be $95,000. How should I handle tax withholding to minimize my tax liability next year?

August 14th, 2024

I had a stimulus payment sent and it didn't go into my account. I don't know where it went. How do I find out where it went?

December 14th, 2024

I am trying to find out if my 2021 IRS tax returns were filed. I did not receive any acknowledgment, and my taxes were filed in March. Can you help me determine if my taxes were filed?

November 11th, 2023

If two children, both students and not claimed as dependents on their parents' tax return, file their own tax return, can they receive the $1,400 stimulus rebate?

July 23rd, 2023