J.K. Lasser Daily Tax Tips |
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Roth IRA Contributions after Age 70 1/2;
Contributions to a traditional IRA may not be made after age 70 1/2, but contributions to a Roth IRA may be made even if you are over age 70 1/2, provided you have compensation to support the contribution and your income is within the limit allowed under the Roth IRA contribution rules.
Previous Daily Tax Tips:
• 3/18/2010 - Roth IRA Contributions after Age 70 1/2;
• 3/17/2010 - IRA Contribution Based on Tax-Free Combat Pay
• 3/16/2010 - Restrictions on Collectibles Investments
• 3/15/2010 - IRA Fees and Brokerage Commissions
• 3/14/2010 - Favorable Recovery Rules
• 3/13/2010 - Simplified Method Mandatory
• 3/12/2010 - Deducting Repaid Pension Overpayment
• 3/11/2010 - Form 5329
• 3/10/2010 - Life Expectancy Tables
• 3/9/2010 - Surrender of Contract
• 3/8/2010 - Unforeseen Emergency Distributions
• 3/7/2010 - Hardship Distribution Not Subject to Withholding
• 3/6/2010 - Favorable Loan Rules for Midwestern Disaster Area Victims
• 3/5/2010 - Penalty Exception for Substantially Equal Payments
• 3/4/2010 - Penalty Exception for Qualified Midwestern Disaster Area Distributions
• 3/3/2010 - Spouse Must Consent in Writing to Your Waiver
• 3/2/2010 - Deferring Tax on NUA
• 3/1/2010 - Non-spouse Beneficiary Rollover to Inherited IRA
• 2/28/2010 - IRA Rollover Election Is Irrevocable
• 2/27/2010 - Pre-Age-591/2 Distributions
• 2/26/2010 - Direct Rollover to Roth IRA
• 2/25/2010 - Lump Sums to Multiple Beneficiaries
• 2/24/2010 - Pre-1974 Capital Gain Portion of Distribution
• 2/23/2010 - Averaging Not Allowed for Those Born After January 1, 1936
• 2/22/2010 - Prior Rollover Bars Averaging
• 2/21/2010 - Lump-Sum Distribution
• 2/20/2010 - Conversion of Traditional IRA to Roth IRA
• 2/19/2010 - Financially Troubled Insurer
• 2/18/2010 - Consider Taxable Transfer
• 2/17/2010 - Transfers to Third Parties
• 2/16/2010 - Interest on Marital Property Settlements
• 2/15/2010 - Recipient Spouse Bears Tax Consequences of Transferred Property
• 2/14/2010 - Parking Transactions
• 2/13/2010 - Bankruptcy of Qualified Intermediary
• 2/12/2010 - Strict Time Limits
• 2/11/2010 - Deducting a Loss
• 2/10/2010 - The Like-Class Test
• 2/9/2010 - Exchanging Depreciable Realty Subject to Depreciation Recapture
• 2/8/2010 - Formalize Loan With Relative
• 2/7/2010 - Debt Worthless Before Due
• 2/6/2010 - Nonbusiness Bad Debt
• 2/5/2010 - Accounts and Notes Receivable
• 2/4/2010 - Selling Before the Security Becomes Worthless
• 2/3/2010 - Taxable Boot Received in Exchange
• 2/2/2010 - Installment Notes in Marital Transfer
• 2/1/2010 - Charging Minimum Interest
• 1/31/2010 - Installment Reporting on Escrow Allowable
• 1/30/2010 - Contingent Sales
• 1/29/2010 - IRS Notice of Related Party Transfer
• 1/28/2010 - Installment Sale to Relative
The Daily Tax Tip content is provided by America's all-time best selling tax guide, J.K. Lasser's™ Your Income Tax Guide by John Wiley & Sons, Inc. Tax advice provided by The Daily Tax Tip shall not be construed as a substitute for the advice obtained or given by a certified tax professional.



