Individual Retirement Accounts (IRAs) & Taxes

Individual Retirement Accounts (IRAs)-Traditional IRA & Roth IRA Income Tax Benefits & Retirement Planning

What you will learn

Individual Retirement Account (IRA) Tax Benefits

How to Report IRA Deduction On Tax Return Using Real Tax Forms

Roth IRA Tax Benefits

Traditional IRA and Roth IRA Contribution Limits

Description

(IRAs) Individual Retirement Accounts, both traditional IRAs and Roth IRAs will discuss tax planning, concentrating on tax benefits of contributing to IRAs.

The course will discuss the tax benefits of traditional individual retirement accounts (IRAs), including how to record deductions related to traditional IRAs on tax forms, using actual tax forms as examples to demonstrate scenarios.

We will discuss contribution limits to traditional individual retirement accounts (IRAs) and how those contribution limits interplay with other types of retirement accounts like employer-provided retirement plans.

The course will discuss the tax benefits of Roth individual retirement accounts (IRAs) or Roth IRAs.

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We will discuss contribution limits to Roth individual retirement accounts (IRAs) or Roth IRAs and how those contribution limits interplay with other types of retirement accounts.

The course will compare and contrast Traditional IRAs and a Roth IRAs.

We will also cover retirement savings contributions credits, including qualification credits and examples of how to report the credit using actual tax forms.

English

language

Content

Introduction

Documents to Download for Reference

PDF – 205 (IRA) Individual Retirement Account

205 (IRA) Individual Retirement Account

PDF – 210 What’s New & Reminders

210 What’s New & Reminders

PDF – 214 Introduction

214 Introduction

PDF – 217 Table How Are a Traditional IRA and a Roth IRA Different

217 Table How Are a Traditional IRA and a Roth IRA Different

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Traditional (IRAs) Individual Retirement Account

PDF – 305 Traditional IRAs Introduction & What Is Compensation

305 Traditional IRAs Introduction & What Is Compensation

PDF – 308 How Can a Traditional IRA Be Opened

308 How Can a Traditional IRA Be Opened

PDF – 310 How Can a Traditional IRA Be Opened Individual Retirement Account

310 How Can a Traditional IRA Be Opened Individual Retirement Account

PDF – 314 Individual Retirement Annuity

314 Individual Retirement Annuity

PDF – 321 SIMPLE IRAs

321 SIMPLE IRAs

PDF – 324 Simplified Employee Pension (SEP)

324 Simplified Employee Pension (SEP)

PDF – 327 How Much Can Be Contributed

327 How Much Can Be Contributed

PDF – 331 General Limit

331 General Limit

PDF – 334 Kay Bailey Hutchison Spousal IRA Limit

334 Kay Bailey Hutchison Spousal IRA Limit

PDF – 337 Filing Status

337 Filing Status

PDF – 341 Less & More Than Maximum Contributions

341 Less & More Than Maximum Contributions

PDF – 344 When Can Contributions Be Made

344 When Can Contributions Be Made

PDF – 347 How Much Can You Deduct

347 How Much Can You Deduct

PDF – 351 Are You Covered by an Employer Plan

351 Are You Covered by an Employer Plan

PDF – 354 Limit if Covered by Employer Plan

354 Limit if Covered by Employer Plan

PDF – 354 Tax Software Limit if Covered by Employer Plan

354 Tax Software Limit if Covered by Employer Plan

PDF – 357 Figure Reduced IRA Deduction & Reporting Deduction Contributions

357 Figure Reduced IRA Deduction & Reporting Deduction Contributions

PDF – 361 Nondeductible Contributions

361 Nondeductible Contributions

PDF – 364 Examples—Worksheet for Reduced IRA Deduction for 2018

364 Examples—Worksheet for Reduced IRA Deduction for 2018

PDF – 367 What if You Inherit an IRA

367 What if You Inherit an IRA

PDF – 371 Can You Move Retirement Plan Assets

371 Can You Move Retirement Plan Assets

PDF – 374 Trustee-to-Trustee Transfer

374 Trustee-to-Trustee Transfer

PDF – 377 Can You Move Retirement Plan Assets Rollovers

377 Can You Move Retirement Plan Assets Rollovers

PDF – 381 Time Limit for Making a Rollover Contribution

381 Time Limit for Making a Rollover Contribution

PDF – 383 Rollover From One IRA Into Another

383 Rollover From One IRA Into Another

PDF – 387 Rollover From Employer’s Plan Into an IRA

387 Rollover From Employer’s Plan Into an IRA

PDF – 391 Rollover Chart

391 Rollover Chart

PDF – 394 Transfers Incident to Divorce

394 Transfers Incident to Divorce

PDF – 397 Converting From Any Traditional IRA Into a Roth IRA

397 Converting From Any Traditional IRA Into a Roth IRA

PDF – 407 When Can You Withdraw or Use Assets

407 When Can You Withdraw or Use Assets

PDF – 411 Contributions Returned Before Due Date of Return

411 Contributions Returned Before Due Date of Return

PDF – 414 Prohibited Transactions

414 Prohibited Transactions

PDF – 417 Prohibited Transactions

417 Prohibited Transactions

PDF – 421 Exempt Transactions

421 Exempt Transactions

PDF – 424 Investment in Collectibles

424 Investment in Collectibles

PDF – 427 Excess Contributions

427 Excess Contributions

PDF – 434 Reporting Additional Taxes

434 Reporting Additional Taxes

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Roth (IRAs) – Roth Individual Retirement Account

PDF – 505 Roth IRAs Introduction

505 Roth IRAs Introduction

PDF – 510 What Is a Roth IRA

510 What Is a Roth IRA

PDF – 514 Can You Contribute to a Roth IRA

514 Can You Contribute to a Roth IRA

PDF – 517 How Much Can Be Contributed

517 How Much Can Be Contributed

PDF – 521 Table Effect of Modified AGI on Roth IRA Contribution

521 Table Effect of Modified AGI on Roth IRA Contribution

PDF – 524 When Can You Make Contributions & What if You Contribute Too Much

524 When Can You Make Contributions & What if You Contribute Too Much

PDF – 527 Can You Move Amounts Into a Roth IRA

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Retirement Savings Contributions Credit

PDF – 610 Contributions Credit What’s New & Introduction

610 Contributions Credit What’s New & Introduction

PDF – 615 Contributions Credit Can you claim the credit

615 Contributions Credit Can you claim the credit

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