IRA Support

[Dell Husker]

Coming to the best place for help since both Edward Jones and TD Ameritrade won’t give me an answer.

I rolled over a Roth IRA from an old employer into a traditional IRA by mistake. It hasn’t been invested though but it just sitting in the account in cash. I need it back into a Roth since I’ve already been taxed but fear I’m going to have to be taxed again. What’s my best route here?

 

[That SOB Van Owen]

Idk because I’m not stupid enough to ever make that mistake.

Calling Jim numbers
@Jim14510

 

[Lemon Barz]

Coming to the best place for help since both Edward Jones and TD Ameritrade won’t give me an answer.

I rolled over a Roth IRA from an old employer into a traditional IRA by mistake. It hasn’t been invested though but it just sitting in the account in cash. I need it back into a Roth since I’ve already been taxed but fear I’m going to have to be taxed again. What’s my best route here?

Leave it in cash

 

[HuskerDocCo]

Idk because I’m not stupid enough to ever make that mistake.

Calling Jim numbers
@Jim14510

feel as if @Jim14510 would invest into Porn Hub

 

[HuskerDocCo]

Coming to the best place for help since both Edward Jones and TD Ameritrade won’t give me an answer.

I rolled over a Roth IRA from an old employer into a traditional IRA by mistake. It hasn’t been invested though but it just sitting in the account in cash. I need it back into a Roth since I’ve already been taxed but fear I’m going to have to be taxed again. What’s my best route here?

youre best route at this point would be a skinny post thanks Gbr!

 

[Red Dog]

How did you manage to get a Roth IRA rolled into a traditional? Anyways, hopefully it’s been less than 60 days so you can do a 60 day rollover, though you can’t have done one in the last 12 months. If it’s been longer I think you’re fucked

 

[Faux Sean Callahan]

Coming to the best place for help since both Edward Jones and TD Ameritrade won’t give me an answer.

I rolled over a Roth IRA from an old employer into a traditional IRA by mistake. It hasn’t been invested though but it just sitting in the account in cash. I need it back into a Roth since I’ve already been taxed but fear I’m going to have to be taxed again. What’s my best route here?

Usually a pretty easy fix by the back office- assuming it was a check deposited.

Yup and make sure your cpa is going to need to be aware too.

 

[Dell Husker]

How did you manage to get a Roth IRA rolled into a traditional? Anyways, hopefully it’s been less than 60 days so you can do a 60 day rollover, though you can’t have done one in the last 12 months. If it’s been longer I think you’re fucked

Old employer sent a disbursement check. Tried creating what I thought was a rollover roth and turned out to be just a traditional

 

[Red Dog]

Old employer sent a disbursement check. Tried creating what I thought was a rollover roth and turned out to be just a traditional

Was it payable just to you? Or to the IRA custodian, TD or Edward Jones

 

[jaihawk]

Man, I opened this thread thinking we were going to be talking about supporting the Irish Republican Army, which is what I think of when I hear IRA and especially since Sinn Fein just took a number of seats in the last election...

Patriot Games anyone?

 

[Dell Husker]

Was it payable just to you? Or to the IRA custodian, TD or Edward Jones

Payable to the account at TD I believe

 

[SoCal_Corn]

Buy a gated Ferrari

 

[doublewing]

Man, I opened this thread thinking we were going to be talking about supporting the Irish Republican Army, which is what I think of when I hear IRA and especially since Sinn Fein just took a number of seats in the last election...

Patriot Games anyone?

That is also why I came to this thread and thought I'd have some good craic with my Irish brethren. Maybe OP was going to set up a march or something prior to the NW game.

 

[Jim14510]

Usually a pretty easy fix by the back office- assuming it was a check deposited.

Yeah a little surprised TD couldn't tell you this from the start.

Assuming you have someone do your tax return just take the paperwork with you and explain what happened. The only taxable amount will be the earnings while in the regular IRA which if it was just in cash should be minimal.

 

[BBTown Bomber]

Leave it in cash

On the contrary, everything’$ on $ale right now. Growth fund$ would be my choice……

.

 

[Jay Bilzerian]

Would love to “accidentally” roll my traditional 401k into a Roth IRA here in a few weeks.

 

[BBTown Bomber]

Would love to “accidentally” roll my traditional 401k into a Roth IRA here in a few weeks.

Let us know how that very slight misstep plays out…..

.

 

[Red Dog]

Yeah a little surprised TD couldn't tell you this from the start.

Assuming you have someone do your tax return just take the paperwork with you and explain what happened. The only taxable amount will be the earnings while in the regular IRA which if it was just in cash should be minimal.

Also surprising. Did you call customer service? This is definitely something they handle, they just won’t give tax advice

 

[Dell Husker]

Also surprising. Did you call customer service? This is definitely something they handle, they just won’t give tax advice

Yes, I called customer service and the Omaha location. One mentioned I just had to take the consequences. The other mentioned I needed a CPA to do something to report to the IRS on it.

I figured this would be an easier solution like you and @Jim14510 have mentioned

 

[Red Dog]

Yes, I called customer service and the Omaha location. One mentioned I just had to take the consequences. The other mentioned I needed a CPA to do something to report to the IRS on it.

I figured this would be an easier solution like you and @Jim14510 have mentioned

I work there, I’ll get you an answer tomorrow