Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

General Discussion

Baitball Blogger

(52,237 posts)

7. Got the info Ms. Toad.

Reply to Ms. Toad (Reply #5)

Sun Sep 10, 2017, 09:00 AM

Sep 2017

It was a Roth. Is that the one where you max out at $6500 per person? The example that was laid out was that you could have three different employers over time, and max out with each of them - not to mention having the ability to purchase them on your own - self-generated. Yes, you will be over your approved limit IF you put in more than 6500 a year - BUT it will be up to the IRS to figure it out. AND the part that irked me was the advice that the guy said that to his knowledge, the IRS was not really actively pursuing these overreaches.

Just reporting what was said.

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

7 replies

= new reply since forum marked as read

Highlight:

Self-directed Roths and a potential loophole for the IRS to look into. [View all] Baitball Blogger Sep 2017 OP

In a Roth IRA, you pay tax before the money goes in. mahatmakanejeeves Sep 2017 #1

You can have more than one Roth IRA. PoindexterOglethorpe Sep 2017 #2

Those ladies in Starbucks FakeNoose Sep 2017 #3

Maybe their pimp was named Roth. miyazaki Sep 2017 #4

It's not a loophole. Ms. Toad Sep 2017 #5

I am going to ask someone who overheard the same conversation to make sure it was Baitball Blogger Sep 2017 #6

Got the info Ms. Toad. Baitball Blogger Sep 2017 #7