Roth IRA contributions are made on an after-tax basis and all earnings and withdrawals are completely tax-free.
You might think that means there’s no reason to report your Roth IRA contributions to the IRS.
In this video, Curt explains why you should notify Uncle Sam when you make a Roth IRA contribution and how you can do just that.
In this Video:
0:48 – Reason 1: Contribution Limitations
1:13 – Reason 2: The Five-Year Rule
1:56 – Reason 3: To Keep Contributions and Earnings Separate
3:00 – The Main Reason You Want to Be Sure It’s Reported
4:33 – What About Roth 401(k)s?
6:03 – Wrap Up
Here’s a link to the blog post that accompanies this video: [ Ссылка ]
Other Related Videos:
Who Can Contribute to a Roth IRA? [ Ссылка ]
The Five Year Rule for Roth IRAs - [ Ссылка ]
How Does My Money Grow in a Roth IRA? [ Ссылка ]
How Much Should I Contribute to a Roth IRA? [ Ссылка ]
Roth IRA or 401(k)? Which One is Better for Me? [ Ссылка ]
7 Reasons It’s a Good Idea to Have a Roth IRA - [ Ссылка ]
How Can I Be Financially Independent by 30? - [ Ссылка ]
How Long Will it Take Me to Be a Millionaire if I Save $100 Per Month? - [ Ссылка ]
Why is Compounding Interest So Important? - [ Ссылка ]
How Much is a Dollar Worth Years from Now? - [ Ссылка ]
Other Related Blog Posts from MartinMoney.com:
Five Reasons Roth IRAs Will Never Be Taxed - [ Ссылка ]
Should I Have Both a Roth IRA and a 401(k)? [ Ссылка ]
Do I Have to Report My Roth IRA on My Tax Return? [ Ссылка ]
At What Age Does a Roth IRA Not Make Sense? [ Ссылка ]
The Backdoor Roth IRA - [ Ссылка ]
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Disclaimer: This video is for information and entertainment only. None of the contents should be considered legal, accounting, or other professional advice. You should reach out to a qualified professional before making your own financial decisions.
