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  • Account Configuration: Account Types

     

    Account Configuration: Account Types 

     

    Overview Configuring Your Account Trading Requirements Trading Permissions Market Data Required Minimums
      Account Structures Client/Customer Types Base Currency Account Types Pricing Structure

     

     

    What Types of Client Accounts are available via your PT brokerage account?

     

    PT offers both full service and online trading brokerage accounts as well as other types of investment accounts including accounts that are held fund direct. To get financial advice or to learn more about other types of investment accounts that are available in addition to a traditional brokerage account (including the account types listed below as well as 401(k), SIMPLE, 403(b) accounts and more) please call your personal advisor at 1-919-719-7200 today.  

    When opening your account you have a choice of Reg T Margin, Reg T IRA, Cash, orPortfolio Margin account types. For more specific information on margin calculations, please see ourMargin Requirements page.

    For more information on setting up (configuring) your IRA / Retirement Accounts please follow this link.

     

    The following table provides a quick-glance comparison of these accounts. Please note that this table refers specifically to brokerage accounts (offering stocks, options, mutual funds, ETFs, bonds and more that are held in your brokerage account). For full service accounts may not be held under these same requirements. 

     

    Compare Available Account Types and Securities Available in Each Type of Account

     

     

    Investments

     

    Reg T Margin

     

    Reg T Margin - IRA

     

    Cash(Including IRA accounts)

     

    Portfolio Margin1

     

    Stocks & Warrants

     

     

     

     

     

     

     

    Margin is calculated on a real-time basis

    Immediate position liquidation if minimum maintenance margin requirement is not met. 

    Purchase and sale proceeds available immediately. 

    US securities regulations require a minimum USD 25,000 in equity or equivalent to day trade.

     

     

    Cannot borrow cash i.e. have a debit balance or short stocks.

     

     

     

     

     

     

     

     

    Account must have enough cash to cover the cost of stock plus commissions. 

    Shorting not allowed. 

    Cash from the sale of stocks is available three business days after the trade date. 

    Account may trade in different currencies but must have the settled cash balance to enter trades. 

    When authorizing market, relative and VWAP orders, a 5% cash cushion is required to compensate for market movements.

     

    Margin is calculated on a real-time risk basis. 

    Immediate position liquidation will occur if the minimum maintenance margin requirement is not met. 

    Purchase and sale proceeds available immediately. 

    US securities regulations require a minimum USD 110,000a or equivalent for this account. If your account drops below USD 100,000, Reg T margin requirements will apply.

     

    Bonds

     

     

     

     

    Margin is calculated on a real-time basis

    Immediate position liquidation ifminimum maintenance margin is not met. 

    Shorting not allowed. 

    Purchase and sale proceeds available immediately.

    Cannot borrow cash i.e. have a debit balance or short stocks.

     

     

     

    Account must have enough cash to cover the cost of bonds plus commissions. 

    Shorting not allowed. 

    Cash from the sale of bonds is available three business days after the trade date 
     


     

    Same as Reg T Margin account type.

     

     

     

     

    Stock & Cash Index Options

     

     

     

     

     

     

     

     

     

     

     

    Margin is calculated on a real-time basis. 

    Immediate position liquidation if minimum maintenance margin requirement is not met. 

    Purchase and sale proceeds available immediately. 

    To purchase options the entire premium plus commissions must be deposited. 

    To sell options and other strategy-based combos, the margin requirements and commissions must be covered. 

    US Securities regulations require at least 25,000 USD in equity or equivalent to day trade. 

    Option market value may never be used for the purpose of borrowing funds.

     

    Cannot borrow cash i.e. have a debit balance or short stocks.

     

     

     

     

     

     

     

     

     

     

    For information on combination strategies that require borrowing and consequently are not available, see the Reg T Margin IRA column on the Options Margin Requirements page.

    Full payment required for all call and put purchases. 

    Covered call writing is allowed, but the underlying stock must be available and is then restricted. 

    Naked put writing is allowed, but the funds must be available and then are restricted. 

    Cash from the sale of options is available one business day after the trade date.

     

     

     

    Same as Portfolio Margin requirements for stocks.

     

     

     

     

     

     

     

     

     

     

    Mutual Funds

     

     

     

     

     

     

     

    Margin updated once per day at closing of funds. 

    Position liquidation on end-of-day basis if minimum maintenance margin requirement is not met. 

    Purchase and sale proceeds recognized end-of-day when order has been submitted and received. 

    Shorting not allowed. 

    Borrowing allowed 30 days after purchase of fund.

     

     

    Cannot borrow cash i.e. have a debit balance or short stocks.

     

     

     

     

     

     

     

    Account must have enough cash to cover the cost of funds plus commissions. 

    Cash from the sale of funds is available one business day after the trade date. 

    Only available to US legal residents.

     

     

     

     

    Same as Portfolio Margin requirements for stocks.

     

     

     

     

     

     

     

    Please Note:

    1. N/A
    2. Fees are charged in the currency of the traded product and liquidations may occur if fees result in negative (short) non-base currency balances.

    Margin accounts have the ability to trade in all available countries.
    IRA accounts can have cash or margin trading permissions, but margin accounts are never allowed to borrow cash (have a debit balance) as per US IRS regulation.
    Cash accounts may be upgraded to Reg T Margin accounts but Reg T Margin accounts may not downgraded to cash accounts.
    In SIPP accounts, the initial and maintenance margin requirements for commodities are 150% of their normal margin requirements. Commodities include futures, futures options and single stock futures.

    Forex & Futures Trading are not available at this time.
    Accounts with Prime services require a minimum of USD 1,000,000 or USD equivalent.

     

    Pricing Structure

    PT offers securities on different market centers around the globe. Each region will have its own commission pricing structure. To be more specific, the main commission rates quoted on this site (e.g., stocks USD 0.01 per share with a minimum of USD 1.50) are for the US securities market only and all commission rates are listed for online trading clients only. (Full service commission rates are not included here - please contact your advisor for full service commission rates.) 

    You will be charged different rates when you trade on other international markets. To calculate commissions for your specific trades please see the pricing schedules for the appropriate market centers; including our Commissions page for US markets and by using the links below for all other markets: 

     

    Stock Commissions for Asia-Pacific Markets      Stock Commissions for European Markets      Stock Commissions for North American Markets

     

    Please call your advisor at 919-719-7200 for more information or for assistance with setting up your account. 



    Open an Account Button

     

     
  • Account Configuration: Customer Types

     

    Account Configuration: Client Types 

    How to Choose and Configure Your Account

    Overview Configuring Your Account Trading Requirements Trading Permissions Market Data Required Minimums
     
     

     

    What Types of Customer/Client Accounts are available via your Place Trade (PT) brokerage account? 

     

    PT offers both full service and online trading brokerage accounts as well as other types of investment accounts including accounts that are held fund direct. The information on the following charts refers specifically to brokerage accounts (only). Brokerage accounts are available for trading stocks, options, mutual funds, ETfs, bonds and more.  
     
    For more information regarding other types of investment accounts that are available in addition to a traditional brokerage account (including the account types listed below as well as 401(k), SIMPLE, 403(b) accounts and more) or to get financial advice please call your personal advisor at 1-919-719-7200 today.

     

    PT offers accounts for both Single Client Types and Organization/Institution Client Types to meet the needs of the following types of accounts:

     

       

    Trader and Investor Accounts

       

    Institution Accounts

     
       
    • Individuals
      (Joint, Trust, IRAs* and UGMA/UTMA
    • Retirement Accounts: Individual and Business)
    • Small Businesses
    • Family Offices
       
    • Advisors
    • Money Managers
    • Brokers 
    • Proprietary Trading Groups
    • Hedge and Mutual Funds
    • Administrators
     
     
     
     
    *IRAs Accounts are included under the Individual section of the online account application. Please call us right away at 1-919-719-7200 if you do not see the section to choose the specific type of retirement account that you wish to open. If you proceed without choosing it you will have to start over and we would like to help you to save time so please do not hesitate to call us.   
     
    Please Note: All accounts are US based as Place Trade is a US based corporation.To learn about tax reporting and other information for Place Trade accounts please visit our Tax Information and Reporting section which covers information for both US and Non-US based clients. 

     

    Single Customer Types

     

             
     

    Customer Type

    Available Account Structures

    Explanation

     
             
     

     

    Individual

     

    • Individual, Joint, Trust, IRA
    • Advisor 
    • Advisor Client 
    • Broker Client 
    • SIPP (UK Residents only)

     

     

    An account owned and utilized by a single trader or investor. A Single account can be linked to multiple Single or IRA accounts.

     
     

     

    Joint

     

    • Individual, Joint, Trust, IRA
    • Advisor Client
    • Broker Client 

     

     

    An account owned and utilized by two individuals. Depending on the laws of your state of residence, there are three types of joint accounts: Tenants with Rights of Survivorship, Tenancy in Common, and Community Property.

     
     

     

    Trust

     

    • Individual, Joint, Trust, IRA
    • Advisor Client
    • Broker Client

     

     

    An account in which the securities are registered in the name of the trust, while a trustee controls the management of the investments.

     
     

     

    IRA

     

    • Individual, Joint, Trust, IRA
    • Advisor Client
    • Broker Client

     

    Individual Retirement Account. We offer the following types of IRA accounts:

    • Traditional
    • Traditional Rollover
    • Traditional Inherited
    • Roth
    • Roth Inherited
    • Simplified Employee Pension (SEP)
    • Simplified Employee Pension (SEP) Inherited

    This account is only available for a US resident individual. An IRA account can be linked to multiple Individual or IRA accounts.

     Please visit Retirement Planning or call your advisor at 919-719-7200 for more information on IRAsand other Qualified Plans.

     
     

     

    IRA Trust

     

    • Advisor Client

     

    An IRA account held at a designated Third Party Trustee.

    This account is only available as a client account for a U.S Advisor.

     

     
     

     

    UGMA/UTMA  

     

    Individual

     

    • Family Office
    • Advisor
    • Fully Disclosed Broker An account intended for a custodian of a minor who is a US resident.

     

     
     
      
     
     
     
     
     

     

    Organization Customer Types

    Back to the top 

             
     

    Customer Type 

    Available Account Structures

    Explanation

     

             
     

     

    Corporation

     


    • Small Business
    • Advisor
    • Advisor Client
    • Broker
    • Broker Client
    • Proprietary Trading Group
    • Fund

     

     

    An account in the name of a corporation, managed on the corporation's behalf by the corporation's officers or authorized traders.

     
     

     

    Partnership

     


    • Small Business
    • Advisor
    • Advisor Client
    • Broker
    • Broker Client
    • Proprietary Trading Group
    • Fund

     

     

    An account in the name of a partnership, managed on the partnership's behalf by the partnership's officers or authorized traders.

     
     

     

    Limited Liability Company

     
    • Small Business
    • Advisor
    • Advisor Client
    • Broker
    • Broker Client
    • Proprietary Trading Group
    • Fund

     

     

    An account in the name of a limited liability company ("LLC"), managed on the LLC's behalf by its officers or authorized traders.

     
     

     

    Unincorporated Business

     
    • Small Business
    • Advisor
    • Advisor Client
    • Broker
    • Broker Client
    • Proprietary Trading Group
    • Fund

     

    An account in the name of an unincorporated business, managed on the business' behalf by the business officers or authorized traders.

     
             
      When considering fees please consider the overall low cost of trading, ultra low margin rates, access to experienced financial consultants and great customer service that you enjoy at Place Trade. We believe that we offer the lowest overall trading cost of any full service broker.    For information regarding fees please call us at 1-919-719-7200.

     

    • Margin accounts have the ability to trade in all available countries.
    • IRA accounts can have cash or margin trading permissions, but margin accounts are never allowed to borrow cash (have a debit balance) as per US IRS regulation.
    • Cash accounts may be upgraded to Reg T Margin accounts but Reg T Margin accounts may not downgraded to cash accounts.
    • In SIPP accounts, the initial and maintenance margin requirements for commodities are 150% of their normal margin requirements. Commodities include futures, futures options and single stock futures.

     

     

    Stock Commissions for Asia-Pacific Markets      Stock Commissions for European Markets      Stock Commissions for North American Markets

     


     

     

    Open an Account     Continue or Finish Your Application     How to Choose and Configure Your Account

    Footnote one: Portfolio Margin accounts are not available for IB Canada customers due to IDA restrictions.
    Footnote two Please note that for commodities, including futures, futures options and single stock futures, "margin" refers to the amount of cash that must be put up BY THE CLIENT as collateral to support a transaction, in contrast to margin for securities which refers to the amount of cash a client borrows from IB.
    Footnote three: Accounts with Prime services require a minimum of USD 1,000,000 or USD equivalent.
     
  • Common Reporting Standard (CRS)

     

    RegulationWhat is the deadline for contributing to an IRA? What is the deadline for contributing to an IRA for 2018? How much can I contribute to my IRA for 2018 or 2019? What are the IRA contribution limits for 2018 and 2019?

    What is a Roth IRA and how does it work? How much does a Roth IRA earn yearly? Who is eligible for a Roth IRA?

     

    Common Reporting Standard (CRS)


     

    What is the Common Reporting Standard (CRS)?

    The Common Reporting Standard (CRS), referred to as the Standard for Automatic Exchange of Financial Account Information (AEOI), calls on countries to obtain information from their financial institutions and exchange that information with other countries automatically on an annual basis. The CRS sets out the financial account information to be exchanged, the financial institutions required to report, the different types of accounts and taxpayers covered, as well as common due diligence procedures to be followed by financial institutions.

    Place Trade will comply with the OECD's Common Reporting Standard – Automatic Exchange of Information (CRS-AEOI).

    What is reported:

    • Name
    • Address
    • Tax ID Number
    • Tax Country
    • Date of Birth
    • Place of Birth
    • Year-end account balance
    • Gross Proceeds (all sales)
    • Interest income
    • Dividend income

     

    To whom is the information reported:

    For accounts held by Place Trade Fnancial, Inc., there is no reporting because the United States has not signed the CRS.

     

     

    Should you have further questions, please contact our Client Service Center at 919-719-7200.

     

     

     

     
  • How can I transfer my IRA Retirement Account? How to Switch Roth IRAs

     

    How to Switch your IRA Account to Place Trade: IRA Transfer Methods

    Client/Customer Types     IRA Types     Base Currency     FAQs     Account Types     Trading Configuration


     

    IRA FAQs

    Retirement Plan Rollover Chart

    Rollover your 401(k)  

    Cashing out your 401(k)?

    Tax Reporting

    Retirement Planning

     
     

     

    Transfer your IRA or Old 401(k) today!

     
       
         
     

     

    How can I move my Traditional or Roth IRA Retirement Account to Place Trade?

     

    IRA Transfer Methods

    Transfer methods describe the way an IRA account is funded. All of the following transfer methods are cash transactions, and Trustee-to-Trustee transfers can also use an ACATS position transfer in Account Management.

    Contribution: The dollar amount of assets you are contributing to an IRA account, subject to certain limits based upon your age and the year of the contribution. Contributions are reported to the Internal Revenue Service (IRS).

    Rollover: A transfer of funds from an IRA account with another trustee/custodian, within 60 days following a distribution, to an IRA account at PT. Rollovers are required to be reported to the IRS. IRA account types must be the same in order to rollover assets, for example, if the originating account is a Roth IRA, your account must also be a Roth IRA.

    Direct Rollover: A transfer of funds from a qualified plan (pension, 401(k) or other qualified retirement plans) with an employer to a PT IRA account. In a Direct Rollover, the trustee/custodian of your employer qualified plan (401(k) or pension) transfers your retirement assets directly to us. In general, no withholding tax or penalties apply to a Direct Rollover, however, Direct Rollovers are reported to the IRS.

    Trustee-to-Trustee: A transfer of funds from an IRA account held with another trustee/custodian to an IRA account at PT, where the assets are transferred directly trustee/custodian to trustee/custodian, with no distribution of assets to you. ACATs position transfers are available, however, the IRA account type and Tax ID must match in order to execute the transfer. Trustee-to-trustee transfers are not required to be reported to the IRS. Refer to the Tax Reporting page on our website for information on IRS forms you will receive when transferring retirement plan assets.

     

    Please review the following table below for a list of all available IRA types and applicable transfer methods:

     

     
         
     
         
     

      How should I transfer my IRA Retirement Account?


       

    IRA Type

    Description

     

    Applicable Transfer Method

     

     

    Traditional IRA

     

     

    A retirement savings plan that allows an individual taxpayer to contribute earnings until they are withdrawn.

    Contributions are subject to annual limits depending on the age of the account owner and may or may not be deductible depending on the individual’s circumstances.
     

    Earnings accumulate tax-deferred until distributed to you at which time the earnings are subject to tax upon withdrawal. A spouse may contribute to a separate account subject to the same limits.
     

    Withdrawals made prior to age 59½ are subject to a 10% penalty unless certain special circumstances apply. Distributions must begin by the account owner’s required beginning date (RBD), which is April 1 following the year you turn age 70½. Once you reach age 70½, you must withdraw at least a minimum amount – an annual Required Minimum Distribution (RMD) - by December 31 of each year. If an account owner fails to withdraw the full amount of the RMD annually or fails to withdraw the RMD, there is a 50% tax penalty on the amount not withdrawn.

     


     

    • Contribution
    • Rollover
    • Direct Rollover
    • Trustee-to-Trustee
    • IRA Conversion

    Traditional IRA Rollover

     

      A traditional IRA account that receives assets directly from an employer-sponsored plan such as a 401(k) or pension plan within 60 days of distribution from the plan. As long as no other assets are contributed to the Traditional Rollover IRA, the monies may be rolled over into a new employer's plan. A traditional rollover IRA is commonly used if you are changing jobs or retiring.     

       

     

    • Contribution
    • Rollover
    • Trustee-to-Trustee
    • IRA Conversion

     

     

    Traditional Inherited IRA

     

      An IRA account you may set up as the beneficiary of a Traditional IRA you inherited from a spouse or other IRA account owner who has died, to receive a transfer of beneficiary IRA assets.  

     

    • Contribution
    • Rollover
    • Trustee-to-Trustee
    • IRA Conversion

     

    Roth IRA

     

      A retirement savings plan that allows an individual taxpayer to contribute earnings, subject to certain income limits. Earnings accumulate tax-free and contributions are nondeductible. Unlike Traditional IRAs, a Roth IRA account owner may continue to contribute after age 70½ if they have earned income. Withdrawals prior to age 59½ are subject to a 10% penalty unless special circumstances apply. There are no age requirements when an account owner must begin taking distributions. Contributions are subject to annual limits depending on the age of the account owner.   

     

    • Trustee-to-Trustee
       
    RothInherited IRA
      An IRA account you may set up as the beneficiary of a Roth IRA you inherited from a spouse or other IRA account owner who has died, to receive a transfer of beneficiary IRA assets.  

     

    • Contribution
    • Rollover
    • Trustee-to-Trustee
    • IRA Recharacterization

     

    Simplified Employee Pension (SEP) IRA

     

      A tax-deferred retirement plan for small businesses and self-employed individuals where an employee can set aside a percentage of pre-tax income into the plan. Annual contributions an employer makes to an employee's SEP-IRA cannot exceed the lesser of 25% of compensation, or $53,000 for 2015 and $53,000 for 2016. The same limits apply to contributions made to a self-employed individual's SEP-IRA. There is 100% vesting of all plan contributions. Distributions generally follow the same rules that apply to IRAs.  

    • Trustee-to-Trustee
    Simplified Employee Pension (SEP) Inherited IRA
      An IRA account you may set up as the beneficiary of a SEP IRA you inherited from a spouse or other IRA account owner who has died, to receive a transfer of beneficiary IRA assets.  

     

    • Contribution
    • Rollover
    • Trustee-to-Trustee
    • IRA Conversion

     

    Other Retirement Accounts:

     

     

     

     

     

     

    Please note that the following retirement accounts may also be available through either an may Investment Trust Accounts or held fund direct with a mutual fund investment company:

     

     

     

      May be held at either:

    • Investment Trust Account

    or

    • Held Direct via Investment Company (in Mutual Funds with no other individual securities traded)

      Available Conversion Types:

    • This will depend on the particular account type that you choose and where it is currently being held as well as where the new account will be held. Please contact us at 919-719-7200 for more information. 

     

     

     

     

     
    IRS Circular 230 Notice: These statements are provided for information purposes only, are not intended to constitute tax advice which may be relied upon to avoid penalties under any federal, state, local or other tax statutes or regulations, and do not resolve any tax issues in your favor.
     

     

     

     

    Please call us at 919-719-7200 for assistance with any of your retirement planning needs today!

     
     
     
     
     
     

    How to Switch your IRA Account to Place Trade: IRA Transfer Methods

    Client/Customer Types     IRA Types     Base Currency     FAQs     Account Types     Trading Configuration


     

    IRA FAQs

    Retirement Plan Rollover Chart

    Rollover your 401(k)  

    Cashing out your 401(k)?

    Tax Reporting

    Retirement Planning

     
     

     

    Transfer your IRA or Old 401(k) today!

     
       
         
     

     

    How can I move my IRA Retirement Account to Place Trade?

     

    IRA Transfer Methods

    Transfer methods describe the way an IRA account is funded. All of the following transfer methods are cash transactions, and Trustee-to-Trustee transfers can also use an ACATS position transfer in Account Management.

    Contribution: The dollar amount of assets you are contributing to an IRA account, subject to certain limits based upon your age and the year of the contribution. Contributions are reported to the Internal Revenue Service (IRS).

    Rollover: A transfer of funds from an IRA account with another trustee/custodian, within 60 days following a distribution, to an IRA account at PT. Rollovers are required to be reported to the IRS. IRA account types must be the same in order to rollover assets, for example, if the originating account is a Roth IRA, your account must also be a Roth IRA.

    Direct Rollover: A transfer of funds from a qualified plan (pension, 401(k) or other qualified retirement plans) with an employer to a PT IRA account. In a Direct Rollover, the trustee/custodian of your employer qualified plan (401(k) or pension) transfers your retirement assets directly to us. In general, no withholding tax or penalties apply to a Direct Rollover, however, Direct Rollovers are reported to the IRS.

    Trustee-to-Trustee: A transfer of funds from an IRA account held with another trustee/custodian to an IRA account at PT, where the assets are transferred directly trustee/custodian to trustee/custodian, with no distribution of assets to you. ACATs position transfers are available, however, the IRA account type and Tax ID must match in order to execute the transfer. Trustee-to-trustee transfers are not required to be reported to the IRS. Refer to the Tax Reporting page on our website for information on IRS forms you will receive when transferring retirement plan assets.

     

    Please review the following table below for a list of all available IRA types and applicable transfer methods:

     

     
         
     
         
     

      How should I transfer my IRA Retirement Account?


       

    IRA Type

    Description

     

    Applicable Transfer Method

     

     

    Traditional IRA

     

     

    A retirement savings plan that allows an individual taxpayer to contribute earnings until they are withdrawn.

    Contributions are subject to annual limits depending on the age of the account owner and may or may not be deductible depending on the individual’s circumstances.
     

    Earnings accumulate tax-deferred until distributed to you at which time the earnings are subject to tax upon withdrawal. A spouse may contribute to a separate account subject to the same limits.
     

    Withdrawals made prior to age 59½ are subject to a 10% penalty unless certain special circumstances apply. Distributions must begin by the account owner’s required beginning date (RBD), which is April 1 following the year you turn age 70½. Once you reach age 70½, you must withdraw at least a minimum amount – an annual Required Minimum Distribution (RMD) - by December 31 of each year. If an account owner fails to withdraw the full amount of the RMD annually or fails to withdraw the RMD, there is a 50% tax penalty on the amount not withdrawn.

     


     

    • Contribution
    • Rollover
    • Direct Rollover
    • Trustee-to-Trustee
    • IRA Conversion

    Traditional IRA Rollover

     

      A traditional IRA account that receives assets directly from an employer-sponsored plan such as a 401(k) or pension plan within 60 days of distribution from the plan. As long as no other assets are contributed to the Traditional Rollover IRA, the monies may be rolled over into a new employer's plan. A traditional rollover IRA is commonly used if you are changing jobs or retiring.     

       

     

    • Contribution
    • Rollover
    • Trustee-to-Trustee
    • IRA Conversion

     

     

    Traditional Inherited IRA

     

      An IRA account you may set up as the beneficiary of a Traditional IRA you inherited from a spouse or other IRA account owner who has died, to receive a transfer of beneficiary IRA assets.  

     

    • Contribution
    • Rollover
    • Trustee-to-Trustee
    • IRA Conversion

     

    Roth IRA

     

      A retirement savings plan that allows an individual taxpayer to contribute earnings, subject to certain income limits. Earnings accumulate tax-free and contributions are nondeductible. Unlike Traditional IRAs, a Roth IRA account owner may continue to contribute after age 70½ if they have earned income. Withdrawals prior to age 59½ are subject to a 10% penalty unless special circumstances apply. There are no age requirements when an account owner must begin taking distributions. Contributions are subject to annual limits depending on the age of the account owner.   

     

    • Trustee-to-Trustee
       
    RothInherited IRA
      An IRA account you may set up as the beneficiary of a Roth IRA you inherited from a spouse or other IRA account owner who has died, to receive a transfer of beneficiary IRA assets.  

     

    • Contribution
    • Rollover
    • Trustee-to-Trustee
    • IRA Recharacterization

     

    Simplified Employee Pension (SEP) IRA

     

      A tax-deferred retirement plan for small businesses and self-employed individuals where an employee can set aside a percentage of pre-tax income into the plan. Annual contributions an employer makes to an employee's SEP-IRA cannot exceed the lesser of 25% of compensation, or $53,000 for 2015 and $53,000 for 2016. The same limits apply to contributions made to a self-employed individual's SEP-IRA. There is 100% vesting of all plan contributions. Distributions generally follow the same rules that apply to IRAs.  

    • Trustee-to-Trustee
    Simplified Employee Pension (SEP) Inherited IRA
      An IRA account you may set up as the beneficiary of a SEP IRA you inherited from a spouse or other IRA account owner who has died, to receive a transfer of beneficiary IRA assets.  

     

    • Contribution
    • Rollover
    • Trustee-to-Trustee
    • IRA Conversion

     

    Other Retirement Accounts:

     

     

     

     

     

     

    Please note that the following retirement accounts may also be available through either an may Investment Trust Accounts or held fund direct with a mutual fund investment company:

     

     

     

      May be held at either:

    • Investment Trust Account

    or

    • Held Direct via Investment Company (in Mutual Funds with no other individual securities traded)

      Available Conversion Types:

    • This will depend on the particular account type that you choose and where it is currently being held as well as where the new account will be held. Please contact us at 919-719-7200 for more information. 

     

     

     

     

     
    IRS Circular 230 Notice: These statements are provided for information purposes only, are not intended to constitute tax advice which may be relied upon to avoid penalties under any federal, state, local or other tax statutes or regulations, and do not resolve any tax issues in your favor.
     

     

     

     

    Please call us at 919-719-7200 for assistance with any of your retirement planning needs today!

     
     
     
     
     
  • How much money can I put in a Roth IRA? | 2018 Roth IRA Contribution & Deduction Limits

     

    Retirement Planning > Individual Investors > RothIRAsWhat is the deadline for contributing to an IRA? What is the deadline for contributing to an IRA for 2018? How much can I contribute to my IRA for 2018 or 2019? What are the IRA contribution limits for 2018 and 2019?

     

    Roth IRA Contribution and Deduction Limits ~ 2018


    Traditional IRAs

    Roth IRAs

    Rollover IRAs IRA FAQs

    Funding Reference


    How much can I contribute to a Roth IRA (if I am eligible to make a contribution)?


    Quick Links:

    Am I eligible to make a tax-deductible IRA contribution? Is my Roth contribution tax-deductible? 

    What are the Roth IRA contribution limits for 2018? Traditional & Roth IRA Contribution Limits ~ 2016, 2017 & 2018

    What is the deadline for contributing to an IRA? 

     


     

    Roth IRA Limits 2017   Roth IRA Limits 2019    Traditional IRA Contribution Limits 2018

    What is the deadline for contributing to an IRA? What is the deadline for contributing to an IRA for 2018? 

    2018 Traditional or Roth IRA Deadline:

    You may make a contribution for your 2018 Traditional or Roth IRA at any time prior to the 2018 IRS tax filing deadline which is on Monday, April 15, 2019.*

     

     
    Roth IRA Contribution Limits
     
    Learn about Roth IRAs

     

     

    Why Should You Open an IRA? Why Should I Open an IRA?

    Are you eligible to make a Roth IRA contribution?

    First, Let's double check to see which type of retirement account you want to contribute to today. If you are looking for a tax break and wish to make a tax-deductible contribution today, then you should consider a Traditional IRA instead of a Roth IRA. If you want to make an after-tax contribution to your retirement plan today, then you should continue on this page and check out our Roth IRA page for more information as well. 

     

     
    Is my Roth contribution tax-deductible?

     

    No, Roth IRA contributions are not tax-deductible. If you would prefer to enjoy the tax benefits when you take the money out then you should continue reading below. Otherwise >>>

     

     
    I want to make a tax-deductiblecontribution to my retirement plan!

     

    Since Roth IRA contributions are not deductible, you may wish to consider contributing to a Traditional IRA instead.

     

     

     

    Whether or not you are eligible to make a (non-deductible) Roth IRA contribution this year depends on several factors. To help you get started, we have listed a few of the important questions that you should ask yourself (and review with your tax and/or legal advisor) to find out if you may be eligible to make a contribution to your Roth IRA this year:

     

     

    Can I contribute to a Roth IRA? 

     

    Will your 2018 contribution to a Roth IRA be affected by the amount of your modified AGI (how much you earn for tax purposes)?

     

    How to figure the amount of your reduced Roth IRA contribution 

     

    Can I contribute to a Roth IRA if I participate in a retirement plan at work?

     

    Can I contribute to both a Roth IRA and a Traditional IRA in the same year?

     

    How much can I contribute to a Roth IRA (if I am eligible)? 

     

    Can I make a contribution to an IRA after age 70½? 

     

     

     

    Find out if you can make an after-tax (non-deductible) contribution to your Roth IRA based on your personal situation. Will the effect of modified AGI impact your ability to make a contribution to your Roth IRA? Be sure to review your personal situation with your tax advisor prior to making any tax-related decisions or investments.

          

    IRAs - Traditional, Roth, SEP, Rollovers and InheritedIs my IRA contribution deductible? Can I deduct my ira contribution? Is my Roth IRA Contribution deductible? Can I deduct the money that I put in m my Roth IRA?  


    Can you contribute to an IRA if you have a retirement plan at work?

    How much can I contribute to IRA 2018?

    Can I contribute to a Roth IRA if I participate in a retirement plan at work?
     

    You can contribute to a Traditional or Roth IRA whether or not you (or your spouse) participate in another retirement plan through your employer or business. However, it is important to note that:

    • Traditional IRAs:You may not be able to deduct all of your traditional IRA contributions if you or your spouse participate in another retirement plan at work. View Deductibility Limits for 2017 and for 2018Traditional IRAs.
    • Roth IRAs:You may not be able to make a Roth IRA contribution or your contribution may be limited if you make too much money. Please review the chart below to see if you are eligible to make a Roth IRA contribution. Please remember that Roth IRA contributions are NOT tax-deductible.

     


     

     

    Can I contribute to both a Roth IRA and a Traditional IRA in the same year?

     

    Yes, if eligible, you can contribute to both a Traditional and Roth IRAin the same tax year. However, it is important to note thatyour total contributions to all of your traditional and Roth IRAs (combined for the given tax year) cannot be more than you are eligible for under the given year's IRA Contribution Limits. You cannot double down and put the maximum in each.

    Think of it like this: if you are under 50* and you are fully eligible to make the maximum contribution for the year ($5,500 in 2017 & 2018), You can put a total of the maximum away ($5,500 in 2017 and another $5,500 in 2018) in either a Roth, a Traditional IRA or in any combination of the two as long as you do not exceed the annual contribution limit.

     

       

     

    For example,

    You could split it 50/50 and put $2,750 in each or you could put $500 in your Roth IRA and $5,000 in your Traditional IRA.

    You can split it up anyway that you would like - just keep in mind that it may not make sense to have an IRA with a super low balance in it because you may not be able to do much with it (as far as diversifying goes) and you may incur account fees (at most firms) that could eat into your long term-saving goals. 

     

       

     

    The amount that you put in the Traditional IRA will be tax-deductible now and the amount that you put in the Roth will receive tax benefits when you take the money out (unless there are changes to the tax laws or you take an unqualified distribution - which, of course, we do not recommend).  

    *If you are 50 or better, you get to add even more money thanks to your Catch-up contributions!

     


    IRAs - Traditional, Roth, SEP, Rollovers and Inherited

     

    Can I contribute to a Roth IRA?  

    Although Roth IRA CONTRIBUTIONS ARE NOT TAX-DEDUCTIBLE, you must be eligible to make a contribution. Use the table below to see if you may be eligible to contribute to a Roth IRA. (This table shows whether your contribution to a Roth IRA is affected by the amount of your modified AGI as computed for Roth IRA purpose. Source: irs.gov) Please be sure to consult with your tax and/or legal advisor prior to making IRA contributions.

     

    Will your 2018 contribution to a Roth IRA be affected by the amount of your modified AGI?

     

    If your filing status is:

    And your modified AGI is:

    Then you can contribute:

    married filing jointly or qualifying widow(er)

    < $189,000

    up to the limit

    > $189,000 but < $199,000

    a reduced amount

    > $199,000

    zero

    married filing separately and you lived with your spouse at any time during the year

    < $10,000

    a reduced amount

    > $10,000

    zero

    single, head of household, or married filing separately and you did not live with your spouse at any time during the year

    < $120,000

    up to the limit

    > $120,000 but < $135,000

    a reduced amount

    > $135,000

    zero

     

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited


     

    How to figure the amount of your reducedRoth IRA contribution:

    According to the IRS:

     

    Amount of your reduced Roth IRA contribution 

    If the amount you can contribute must be reduced, figure your reduced contribution limit as follows.

    1. Start with your modified AGI.
    2. Subtract from the amount in (1):
      1. $189,000 if filing a joint return or qualifying widow(er),
      2. $-0- if married filing a separate return, and you lived with your spouse at any time during the year, or
      3. $120,000 for all other individuals.
    3. Divide the result in (2) by $15,000 ($10,000 if filing a joint return, qualifying widow(er), or married filing a separate return and you lived with your spouse at any time during the year).
    4. Multiply the maximum contribution limit (before reduction by this adjustment and before reduction for any contributions to traditional IRAs) by the result in (3).
    5. Subtract the result in (4) from the maximum contribution limit before this reduction. The result is your reduced contribution limit.

     

    Please see Publication 590-A, Contributions to Individual Retirement Accounts (IRAs), for more details including a worksheet to figure your reduced contribution and be sure to speak with your tax and/or legal advisor prior to making any tax-related decisions. Please reviewPublication 590-A (2018 when available), for specific issues related to Contributions to Individual Retirement Arrangements (IRAs) for use in preparing 2018 Returns. The current link shown is for 2016 which is currently posted on irs.com as of January 2018.


     

    2018 Traditional IRA Contribution and Deduction Limits - Effect of Modified AGI on IRA Contributions

     

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited


     

    Learn about Rollover IRAs an how easy it is to Transfer your IRA account (from another firm) to an existing account Place Trade®

     

     

    What are the Roth IRA contribution limits for 2018? How much can I contribute to IRA 2018? 

    IRA Contribution Limits ~ 2016, 2017 & 2018

    You may make an eligible contribution for your 2018 Traditional or Roth IRA at any time prior to the 2018 IRS tax filing deadline which is Monday, April 15, 2019. (Your account must be funded or have proof of postmark by this date! For brokerage accounts - please check to see our clearing firm's required cutoff date for eligible contributions.) 

     

    The same general contribution limit applies to both Roth and traditional IRAs. However, your Roth IRA contribution might be limited based on your filing status and income.


    Please Note: For 2016, 2017 and 2018, your total contributions to all of your traditional and Roth IRAs (combined for the given tax year) cannot be more than:
            

     

    Under Age 50  

     

    Total

    Under Age 50  

     

    Over Age 50

    Additional 

     Total

    Over Age 50

    2016* **

    $5,500

    Catch-up Contribution

    $1,000

    $6,500

    2017* **

    $5,500

    Catch-up Contribution

    $1,000

    $6,500

    2018* ** $5,500 Catch-up Contribution $1,000 $6,500

     Source: irs.gov

    "Total" means your total contributions to all of your Traditional and Roth IRAs combined for the given tax year. Youcannot exceed the total amount/contribution limit regardless of how many IRAs that you have or the type/types of IRA(s) that you may have.

    *Or your taxable compensation for the year.

    ** Effective for the tax year 2002 and beyond, for participants who are eligible to make an IRA contribution and have attained the age of 50 before the end of the taxable year, the participant can make a "catch-up" contribution in addition to the normal contribution amount as shown in the table above. The catch-up contribution was $500 from 2002-2005. For the year 2006 and beyond, the catch-up contribution limit will be $1000. The maximum contribution cannot exceed 100% of actual compensation. Learn more about COLA Increases for Dollar Limitations on Benefits and Contributions from the IRS.

     

    Please note that the IRA contribution limit does not apply to:

    Deductibility limits can be confusing and tax laws are frequently changing. It is always best to review your specific situation and/or circumstances with a qualified tax advisor.

     

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited


     

    Can I make a contribution to an IRA after age 70½?

     

     

     

     
    Traditional IRA
     
    Roth IRA
     
      NO   YES  
     

     

     

    Contributions toIRAs after age 70½

     

    Can I make a contribution to my Traditional IRA after age 70½?
    No, youcannot make regular contributions to a Traditional IRA in the year you reach 70½ and older.

     

    Can I make a contribution to my Roth IRA after age 70½?
    Yes, you can still contribute to a Roth IRA and make rollover contributions to a Roth or traditional IRA regardless of your age.

     


     

     

     

     

    Open an IRA online or call us at 1-800-50-PLACE or 1-919-719-7200 to speak with an experienced retirement specialist to help you rollover your old retirement account or help you start planning for retirement today!  

     

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited

     

     

    Call us today at 1-800-50-PLACE (1-800-507-5223, 919-719-7200) for more information! 

     

     


     
       

     

      

     Get More Info About Retirement Planning with these Related Links:

     

     

     

    Retirement Planning

    Traditional IRA

    Roth IRA

    SEP IRA

    SIMPLE IRA

    Qualified Plans

    Rollover IRAs

    401(k) Rollover

    Leaving your old 401(k) behind

    Cashing Out of your 401(k)

    Switching Jobs? Know your Options

    From Ramen to Retirement

    Get Advice or Trade Online

    Can I Trade Options or on Margin in my IRA? Yes

     

     

    Should you have further questions, please contact our Client Service Center at 919-719-7200. Additionally, you may contact us via live chat or secure message (by logging in to Account Managementfor assistance.

     

    ________________________________________________________________________

    Important Notes:IRA contribution deadline 2018

    • *MA residents may make prior year 2018 IRA contributions thru Tuesday, April 16, 2019.
    • Please be sure to check with your tax and/or legal advisor prior to making any contributions, withdrawals or other changes to your retirement account. Place Trade Financial, Inc. does not offer tax or legal advice. Information provided by Place Trade is for educational purposes and should not be considered as tax or legal advice under any circumstances.
    • Please view IRS Publication 590: Publication 590-A (Contributions to Individual Retirement Arrangements (IRAs)) and IRS Publication 590-B Distributions from Individual Retirement Arrangements (IRAs) for more details and speak with your tax advisor prior to making any decisions.
    • Please be sure to look for the matching tax year when reviewing IRS Publication 590 (Publications 590-A and 590-A). We have included these links to the IRS website's pages covering Publications 590-A and 590-A for your convenience. The IRS site still shows the 2016 publications as of January 2018.
     

    What is an IRA? 

    IRA contribution deadline 2018

     

    Learn about Traditional IRAs

     

     

     

  • How much money can I put in a Roth IRA? | 2019 Roth IRA Contribution & Deduction Limits

     

    Retirement Planning > Individual Investors > RothIRAsWhat is the deadline for contributing to an IRA? What is the deadline for contributing to an IRA for 2018? How much can I contribute to my IRA for 2018 or 2019? What are the IRA contribution limits for 2018 and 2019?

     

    Roth IRA Contribution and Deduction Limits ~ 2019


    Traditional IRAs

    Roth IRAs

    Rollover IRAs IRA FAQs

    Funding Reference


    How much can I contribute to a Roth IRA (if I am eligible to make a contribution)?


    Quick Links:

    Am I eligible to make a tax-deductible IRA contribution? Is my Roth contribution tax-deductible? 

    What are the Roth IRA contribution limits for 2019? Traditional & Roth IRA Contribution Limits ~ 2018

    What is the deadline for contributing to an IRA? 

     


     

    Roth IRA Limits 2018     Traditional IRA Contribution Limits 2018

    What is the deadline for contributing to an IRA? What is the deadline for contributing to an IRA for 2018? 

    2019 Traditional or Roth IRA Deadline:

    You may make a contribution for your 2019 Traditional or Roth IRA at any time prior to the 2019 IRS tax filing deadline which is on Wednesday, July 15, 2020.*

     

     
    Roth IRA Contribution Limits
     
    Learn about Roth IRAs

     

     

    Why Should You Open an IRA? Why Should I Open an IRA?

    Are you eligible to make a Roth IRA contribution?

    First, Let's double check to see which type of retirement account you want to contribute to today. If you are looking for a tax break and wish to make a tax-deductible contribution today, then you should consider a Traditional IRA instead of a Roth IRA. If you want to make an after-tax contribution to your retirement plan today, then you should continue on this page and check out our Roth IRA page for more information as well. 

     

     
    Is my Roth contribution tax-deductible?

     

    No, Roth IRA contributions are not tax-deductible. If you would prefer to enjoy the tax benefits when you take the money out then you should continue reading below. Otherwise >>>

     

     
    I want to make a tax-deductiblecontribution to my retirement plan!

     

    Since Roth IRA contributions are not deductible, you may wish to consider contributing to a Traditional IRA instead.

     

     

     

    Whether or not you are eligible to make a (non-deductible) Roth IRA contribution this year depends on several factors. To help you get started, we have listed a few of the important questions that you should ask yourself (and review with your tax and/or legal advisor) to find out if you may be eligible to make a contribution to your Roth IRA this year:

     

     

    Can I contribute to a Roth IRA? 

     

    Will your 2019 contribution to a Roth IRA be affected by the amount of your modified AGI (how much you earn for tax purposes)?

     

    How to figure the amount of your reduced Roth IRA contribution 

     

    Can I contribute to a Roth IRA if I participate in a retirement plan at work?

     

    Can I contribute to both a Roth IRA and a Traditional IRA in the same year?

     

    How much can I contribute to a Roth IRA (if I am eligible)? 

     

    Can I make a contribution to an IRA after age 70½? 

     

     

     

    Find out if you can make an after-tax (non-deductible) contribution to your Roth IRA based on your personal situation. Will the effect of modified AGI impact your ability to make a contribution to your Roth IRA? Be sure to review your personal situation with your tax advisor prior to making any tax-related decisions or investments.

          

    IRAs - Traditional, Roth, SEP, Rollovers and InheritedIs my IRA contribution deductible? Can I deduct my ira contribution? Is my Roth IRA Contribution deductible? Can I deduct the money that I put in m my Roth IRA?  


    Can you contribute to an IRA if you have a retirement plan at work?

    How much can I contribute to IRA 2018?

    Can I contribute to a Roth IRA if I participate in a retirement plan at work?
     

    You can contribute to a Traditional or Roth IRA whether or not you (or your spouse) participate in another retirement plan through your employer or business. However, it is important to note that:

    • Traditional IRAs:You may not be able to deduct all of your traditional IRA contributions if you or your spouse participate in another retirement plan at work. View Deductibility Limits for 2018Traditional IRAs and for 2019.
    • Roth IRAs:You may not be able to make a Roth IRA contribution or your contribution may be limited if you make too much money. Please review the chart below to see if you are eligible to make a Roth IRA contribution. Please remember that Roth IRA contributions are NOT tax-deductible.

     


     

     

    Can I contribute to both a Roth IRA and a Traditional IRA in the same year?

     

    Yes, if eligible, you can contribute to both a Traditional and Roth IRA in the same tax year. However, it is important to note thatyour total contributions to all of your traditional and Roth IRAs (combined for the given tax year) cannot be more than you are eligible for under the given year's IRA Contribution Limits. You cannot double down and put the maximum in each.

    Think of it like this: if you are under 50* and you are fully eligible to make the maximum contribution for the year ($5,500 in 2018 & $6,000 for 2019), You can put a total of the maximum away ($5,500 in 2018 and another $6,600 in 2019) in either a Roth, a Traditional IRA or in any combination of the two as long as you do not exceed the annual contribution limit.

     

       

     

    For example,

    You could split it 50/50 and put $3,000 in each or you could put $500 in your Roth IRA and $5,500 in your Traditional IRA.

    You can split it up any way that you would like - just keep in mind that it may not make sense to have an IRA with a super low balance in it because you may not be able to do much with it (as far as diversifying goes) and you may incur account fees (at most firms) that could eat into your long term saving goals. 

     

       

     

    The amount that you put in the Traditional IRA will be tax-deductible now and the amount that you put in the Roth will receive tax benefits when you take the money out (unless there are changes to the tax laws or you take an unqualified distribution - which, of course, we do not recommend).  

    *If you are 50 or better, you get to add even more money thanks to your Catch-up contributions!

     


    IRAs - Traditional, Roth, SEP, Rollovers and Inherited

     

    Can I contribute to a Roth IRA?  

    Although Roth IRA CONTRIBUTIONS ARE NOT TAX-DEDUCTIBLE, you must be eligible to make a contribution. Use the table below to see if you may be eligible to contribute to a Roth IRA. (This table shows whether your contribution to a Roth IRA is affected by the amount of your modified AGI as computed for Roth IRA purpose. Source: irs.gov) Please be sure to consult with your tax and/or legal advisor prior to making IRA contributions.

     

    Will your 2019 contribution to a Roth IRA be affected by the amount of your modified AGI?

     

    If your filing status is:

    And your modified AGI is:

    Then you can contribute:

    married filing jointly or qualifying widow(er)

    < $193,000

    up to the limit

    > $193,000 but < $203,000

    a reduced amount

    > $203,000

    zero

    married filing separately and you lived with your spouse at any time during the year

    < $10,000

    a reduced amount

    > $10,000

    zero

    single, head of household, or married filing separately and you did not live with your spouse at any time during the year

    < $122,000

    up to the limit

    > $122,000 but < $137,000

    a reduced amount

    > $137,000

    zero

     

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited


     

    How to figure the amount of your reducedRoth IRA contribution:

    According to the IRS:

     

    Amount of your reduced Roth IRA contribution 

    If the amount you can contribute must be reduced, figure your reduced contribution limit as follows.

    1. Start with your modified AGI.
    2. Subtract from the amount in (1):
      1. $193,000 if filing a joint return or qualifying widow(er),
      2. $-0- if married filing a separate return, and you lived with your spouse at any time during the year, or
      3. $122,000 for all other individuals.
    3. Divide the result in (2) by $15,000 ($10,000 if filing a joint return, qualifying widow(er), or married filing a separate return and you lived with your spouse at any time during the year).
    4. Multiply the maximum contribution limit (before reduction by this adjustment and before reduction for any contributions to traditional IRAs) by the result in (3).
    5. Subtract the result in (4) from the maximum contribution limit before this reduction. The result is your reduced contribution limit.

     

    Please see Publication 590-A, Contributions to Individual Retirement Accounts (IRAs), for more details including a worksheet to figure your reduced contribution and be sure to speak with your tax and/or legal advisor prior to making any tax-related decisions. Please reviewPublication 590-A (2019 when available), for specific issues related to Contributions to Individual Retirement Arrangements (IRAs) for use in preparing 2019 Returns. The current link shown is for 2018 which is currently posted on irs.com as of March 2019.


     

    2019 Traditional IRA Contribution and Deduction Limits - Effect of Modified AGI on IRA Contributions

     

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited


     

    Learn about Rollover IRAs and how easy it is to Transfer your IRA account (from another firm) to an existing account Place Trade®

     

     

    What are the Roth IRA contribution limits for 2019? How much can I contribute to IRA 2018? 

    IRA Contribution Limits ~ 2016, 2017 & 2018

    You may make an eligible contribution for your 2019 Traditional or Roth IRA at any time prior to the 2019 IRS tax filing deadline which is Wednesday, July 15, 2020. (Your account must be funded or have proof of postmark by this date! For brokerage accounts - please check to see our clearing firm's required cutoff date for eligible contributions.) 

     

    The same general contribution limit applies to both Roth and traditional IRAs. However, your Roth IRA contribution might be limited based on your filing status and income.


    Please Note: For 2018 and 2019, your total contributions to all of your traditional and Roth IRAs (combined for the given tax year) cannot be more than:
            

     

    Under Age 50  

     

    Total

    Under Age 50  

     

    Over Age 50

    Additional 

     Total

    Over Age 50

    2019* **

    $6,000

    Catch-up Contribution

    $1,000

    $7,000

    2018* **

    $5,500

    Catch-up Contribution

    $1,000

    $6,500

     Source: irs.gov

    "Total" means your total contributions to all of your Traditional and Roth IRAs combined for the given tax year.Youcannot exceed the total amount/contribution limit regardless of how many IRAs you have or the type/types of IRA(s) that you may have.

    *Or your taxable compensation for the year.

    ** Effective for the tax year 2002 and beyond, for participants who are eligible to make an IRA contribution and have attained the age of 50 before the end of the taxable year, the participant can make a "catch-up" contribution in addition to the normal contribution amount as shown in the table above. The catch-up contribution was $500 from 2002-2005. For the year 2006 and beyond, the catch-up contribution limit will be $1000. The maximum contribution cannot exceed 100% of the actual compensation. Learn more about COLA Increases for Dollar Limitations on Benefits and Contributions from the IRS.

     

    Please note that the IRA contribution limit does not apply to:

    Deductibility limits can be confusing and tax laws are frequently changing. It is always best to review your specific situation and/or circumstances with a qualified tax advisor.

     

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited


     

    Can I make a contribution to an IRA after age 70½?

     

     

     

     
    Traditional IRA
     
    Roth IRA
     
     

    NO (for the 2019 tax year)

    YES (for 2020 & later years)

      YES  
     

     

     

    Contributions toIRAs after age 70½

     

    Can I make a contribution to my Traditional IRA after age 70½?
    No, youcannot make regular contributions to a Traditional IRA if you reach the age of 70½in the 2019 tax year.

    Yes,you can make regular contributions to a Traditional IRA in the tax year 2020 and later years.

     

    Can I make a contribution to my Roth IRA after age 70½?
    Yes, you can still contribute to a Roth IRA and make rollover contributions to a Roth or traditional IRA regardless of your age.

     


     

     

     

     

    Open an IRA online or call us at 1-800-50-PLACE or 1-919-719-7200 to speak with an experienced retirement specialist to help you rollover your old retirement account or help you start planning for retirement today!  

     

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited

     

     

    Call us today at 1-800-50-PLACE (1-800-507-5223, 919-719-7200) for more information! 

     

     


     
       

     

      

     Get More Info About Retirement Planning with these Related Links:

     

     

     

    Retirement Planning

    Traditional IRA

    Roth IRA

    SEP IRA

    SIMPLE IRA

    Qualified Plans

    Rollover IRAs

    401(k) Rollover

    Leaving your old 401(k) behind

    Cashing Out of your 401(k)

    Switching Jobs? Know your Options

    From Ramen to Retirement

    Get Advice or Trade Online

    Can I Trade Options or on Margin in my IRA? Yes

     

     

    Should you have further questions, please contact our Client Service Center at 919-719-7200. Additionally, you may contact us via live chat or secure message (by logging in to Account Managementfor assistance.

     

    ________________________________________________________________________

    Important Notes:IRA contribution deadline 2018

    • *MA residents may make prior year 2018 IRA contributions thru Tuesday, April 16, 2019.
    • Please be sure to check with your tax and/or legal advisor prior to making any contributions, withdrawals or other changes to your retirement account. Place Trade Financial, Inc. does not offer tax or legal advice. Information provided by Place Trade is for educational purposes and should not be considered as tax or legal advice under any circumstances.
    • Please view IRS Publication 590: Publication 590-A (Contributions to Individual Retirement Arrangements (IRAs)) and IRS Publication 590-B Distributions from Individual Retirement Arrangements (IRAs) for more details and speak with your tax advisor prior to making any decisions.
    • Please be sure to look for the matching tax year when reviewing IRS Publication 590 (Publications 590-A and 590-A). We have included these links to the IRS website's pages covering Publications 590-A and 590-A for your convenience. The IRS site still shows the 2016 publications as of January 2018.
     

    What is an IRA? 

    IRA contribution deadline 2018

     

    Learn about Traditional IRAs

     

     

     

  • How much money can I put in a Roth IRA? | 2020 Roth IRA Contribution & Deduction Limits (2)

     

    Retirement Planning > Individual Investors > RothIRAsWhat is the deadline for contributing to an IRA? What is the deadline for contributing to an IRA for 2018? How much can I contribute to my IRA for 2018 or 2019? What are the IRA contribution limits for 2018 and 2019?

    What is a Roth IRA and how does it work? How much does a Roth IRA earn yearly? Who is eligible for a Roth IRA?

     

    Roth IRA Contribution and Deduction Limits ~ 2020


    Traditional IRAs

    Roth IRAs

    Rollover IRAs IRA FAQs

    Funding Reference


    How much can I contribute to a Roth IRA (if I am eligible to make a contribution)?


    Quick Links:

    What are the Roth IRA Contribution Limits? For both 2019 & 2020: $6,000 ($7,000 age 50 and better) 

    What is the deadline for contributing to an IRA? 

    Am I eligible to make a tax-deductible IRA contribution? Is my Roth contribution tax-deductible? 

    How late can you contribute to a Roth IRA for 2019? What is the deadline for making a Roth IRA contribution?

     

    What are the Roth IRA contribution limits for 2020? How much can I contribute to IRA 2019?  

    IRA Contribution Limits

    Roth IRA contributions are made on an AFTER-tax basis and whether or not you are eligible to contribute is based on both your income and filing status. How much you can contribute is additionally impacted by your age with catch-up contributions for individuals age 50 and up.

    Please Note:For 2019 and 2020, your total contributions to all of your traditional and Roth IRAs (combined for the given tax year) cannot be more than:       

     

    Under Age 50  

     

    Total

    Under Age 50  

     

    Over Age 50

    Additional 

     Total

    Over Age 50

    2020* **

    $6,000

    Catch-up Contribution

    $1,000

    $7,000

    2019* **

    $6,000

    Catch-up Contribution

    $1,000

    $7,000

     Source: irs.gov

    You may make an eligible contribution for your 2020 Traditional or Roth IRA at any time prior to the 2020 IRS tax filing deadline which is Thursday, April 15, 2021. (Your account must be funded or have proof of postmark by this date! For brokerage accounts - please check to see our clearing firm's required cutoff date for eligible contributions.) We can generally open and fund accounts (make your contributions) with investment companies (think mutual funds) right up to the deadline (as long as you can get your contributions postmarked before the deadline).

    The same general contribution limit applies to both Roth and Traditional IRAs. However, your Roth IRA contribution might be limited based on your filing status and income.

    "Total" means your total contributions to all of your Traditional and Roth IRAs combined for the given tax year. Youcannot exceed the total amount/contribution limit regardless of how many IRAs you have or the type/types of IRA(s) that you may have.

    *Or your taxable compensation for the year.

    ** Effective for the tax year 2002 and beyond, for participants who are eligible to make an IRA contribution and have attained the age of 50 before the end of the taxable year, the participant can make a "catch-up" contribution in addition to the normal contribution amount as shown in the table above. The catch-up contribution was $500 from 2002-2005. For the year 2006 and beyond, the catch-up contribution limit will be $1000. The maximum contribution cannot exceed 100% of the actual compensation. Learn more about COLA Increases for Dollar Limitations on Benefits and Contributions from the IRS.

     

    Please note that the IRA contribution limit does not apply to:

    • Rollover contributions
    • Qualified reservist repayments

    Deductibility limits can be confusing and tax laws are frequently changing. It is always best to review your specific situation and/or circumstances with a qualified tax advisor.

    Roth IRA contributions are made on an AFTER-tax basis. What does this mean? It means that you use money that you have already paid taxes on and that you won't get a tax break on the money that you put in your Roth IRA today (like you could if you contributed to a Traditional IRA with money that you haven't paid taxes on yet).The Roth IRAadvantage: No tax break today means that you should not have to pay taxes on your money when you take it out in retirement.

     

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited


     


     

    What is the deadline for contributing to an IRA? What is the deadline for contributing to an IRA for 2018? 

    Traditional & Roth IRA Contribution Deadlines

     

     

    2020

    For the 2020 tax year (ending December 31, 2020), you can make eligible contributions to an IRA (Traditional or Roth IRA) between January 1, 2020 and Monday, April 15, 2021.

     

    2019 

    For the 2019 tax year (ending December 31, 2019), you may make eligible contributions to your 2019 Traditional or Roth IRA at any time prior to the 2019 IRS tax filing deadline which is on Wednesday, July 15, 2020.* Looking for more info on contributing to a 2019 IRA? Check these out: Roth IRA Limits 2019  Traditional IRA Contribution Limits 2019

     

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited


     

    Can I still put money in my IRA for last year? What is the deadline to contribute to an IRA for this year or last year?
    Why Should You Open an IRA? Why Should I Open an IRA?

    Are you eligible to make a Roth IRA contribution?

    First, Let's double-check to see which type of retirement account you want to contribute to today. If you are looking for a tax break and wish to make a tax-deductible contribution today, then you should consider a Traditional IRA instead of a Roth IRA. If you want to make an after-tax contribution to your retirement plan today, then you should continue on this page and check out our Roth IRA page for more information as well. 

     

     
    Is my Roth contribution tax-deductible?

     

    No, Roth IRA contributions are not tax-deductible. If you would prefer to enjoy the tax benefits when you take the money out then you should continue reading below. Otherwise >>>

     

     
    I want to make a tax-deductiblecontribution to my retirement plan!

     

    Since Roth IRA contributions are not deductible, you may wish to consider contributing to a Traditional IRA instead.

     

     

     

    Whether or not you are eligible to make a (non-deductible) Roth IRA contribution this year depends on several factors. To help you get started, we have listed a few of the important questions that you should ask yourself (and review with your tax and/or legal advisor) to find out if you may be eligible to make a contribution to your Roth IRA this year:

     

     

    Can I contribute to a Roth IRA? 

     

    Will your 2020 contribution to a Roth IRA be affected by the amount of your modified AGI (how much you earn for tax purposes)?

     

    How to figure the amount of your reduced Roth IRA contribution 

     

    Can I contribute to a Roth IRA if I participate in a retirement plan at work?

     

    Can I contribute to both a Roth IRA and a Traditional IRA in the same year?

     

    How much can I contribute to a Roth IRA (if I am eligible)? 

     

    Can I make a contribution to an IRA after age 70½? 

     

     

     

    Find out if you can make an after-tax (non-deductible) contribution to your Roth IRA based on your personal situation. Will the effect of modified AGI impact your ability to make a contribution to your Roth IRA? Be sure to review your personal situation with your tax advisor prior to making any tax-related decisions or investments.

          

    IRAs - Traditional, Roth, SEP, Rollovers and InheritedIs my IRA contribution deductible? Can I deduct my ira contribution? Is my Roth IRA Contribution deductible? Can I deduct the money that I put in my Roth IRA?

    Can you contribute to an IRA if you have a retirement plan at work?

    How much can I contribute to IRA 2018?

    Can I contribute to a Roth IRA if I participate in a retirement plan at work?
     

    You can contribute to a Traditional or Roth IRA whether or not you (or your spouse) participate in another retirement plan through your employer or business. However, it is important to note that:

    • Traditional IRAs:You may not be able to deduct all of your traditional IRA contributions if you or your spouse participate in another retirement plan at work. View Deductibility Limits for 2019 Traditional IRAs and for 2020.
    • Roth IRAs:You may not be able to make a Roth IRA contribution or your contribution may be limited if you make too much money. Please review the chart below to see if you are eligible to make a Roth IRA contribution. Please remember that Roth IRA contributions are NOT tax-deductible.

     


     

     

    Can I contribute to both a Roth IRA and a Traditional IRA in the same year?

     

    Yes, if eligible, you can contribute to both a Traditional and Roth IRA in the same tax year. However, it is important to note thatyour total contributions to all of your traditional and Roth IRAs (combined for the given tax year) cannot be more than you are eligible for under the given year's IRA Contribution Limits. You cannot double down and put the maximum in each.

    Think of it like this: if you are under 50* and you are fully eligible to make the maximum contribution for the year ($6,000 in 2019 & $6,000 for 2020), you can put a total of the maximum away ($6,000 in 2019 and another $6,000 in 2020) in either a Roth, a Traditional IRA or in any combination of the two as long as you do not exceed the annual contribution limit. *50 and over allows catch up contributions of an additional $1,000.

     

       

     

    For example,

    You could split it 50/50 and put $3,000 in each or you could put $500 in your Roth IRA and $5,500 in your Traditional IRA.

    You can split it up any way that you would like - just keep in mind that it may not make sense to have an IRA with a super low balance in it because you may not be able to do much with it (as far as diversifying goes) and you may incur account fees (at most firms) that could eat into your long term saving goals. 

     

       

     

    The amount that you put in the Traditional IRA will be tax-deductible now and the amount that you put in the Roth will receive tax benefits when you take the money out (unless there are changes to the tax laws or you take an unqualified distribution - which, of course, we do not recommend).  

    *If you are 50 or better, you get to add even more money thanks to your Catch-up contributions!

     


    IRAs - Traditional, Roth, SEP, Rollovers and Inherited

     

    Can I contribute to a Roth IRA?  

    Although Roth IRA CONTRIBUTIONS ARE NOT TAX-DEDUCTIBLE, you must be eligible to make a contribution. Use the table below to see if you may be eligible to contribute to a Roth IRA. (This table shows whether your contribution to a Roth IRA is affected by the amount of your modified AGI as computed for Roth IRA purpose. Source: irs.gov) Please be sure to consult with your tax and/or legal advisor prior to making IRA contributions.

     

    Will your 2020 contribution to a Roth IRA be affected by the amount of your modified AGI?

     

    If your filing status is:

    2020

    And your modified AGI is:

    2019

    And your modified AGI is:

    Then you can contribute:

    Married filing jointly or qualifying widow(er)

    $196,000
    $193,000
    up to the limit
    $196,000 - $205,999
    $193,000 - $202,999
    a reduced amount
    $206,000 or more
    $203,000 or more
    zero

    Married filing separately andyou lived with your spouse at any time during the year

    Less than $10,000
    $193,000
    a reduced amount
    > $10,000
    $193,000 - $202,999
    zero
    $10,000 or more
    $203,000 or more
    zero

    Single, head of household, or married filing separately andyou did not live with your spouse at any time during the year

    Less than $124,000
    Less than $122,000
    up to the limit
    $124,000-$138,999
    $122,000-$136,999
    a reduced amount
    $139,000 or more
    $137,000 or more
    zero
    Call us today at 919-719-7200 to easily set up your Roth IRA or to or rollover your old Roth IRA account to Place Trade!

     


    Will your 2020 contribution to a Roth IRA be affected by the amount of your modified AGI?

     

    If You ARE Covered by a Retirement Plan at Work

     

    If your filing status is:

    2020

    And your modified AGI is:

    2019

    And your modified AGI is:

    Then you can contribute:

    Married filing jointly or qualifying widow(er)

    Less than $104,000
    $103,000 or less
    up to the limit
    $104,000but less than $124,999
    $103,000but less than $123,999
    a reduced amount
    $124,000 or more
    $123,000 or more
    Zero

    Married filing separately andyou lived with your spouse at any time during the year

    Less than $10,000
    Less than $10,000
    a reduced amount
    > $10,000
    > $10,000
    Zero
    $10,000 or more
    $10,000 or more
    Zero

    Single, head of household, or married filing separately andyou did not live with your spouse at any time during the year

    Less than $65,000
    Less than $64,000
    up to the limit
    $65,000 but less than $75,000
    $64,000 but less than $74,000
    a reduced amount
    $75,000 or more
    $74,000 or more
    Zero
    Call us today at 919-719-7200 to easily set up your Roth IRA or to or rollover your old Roth IRA account to Place Trade!

     


     

     

    2020 IRA Contribution and Deduction Limits Effect of Modified AGI on Deductible Contributions

     

    If You are NOT Covered by a Retirement Plan at Work

     

    What is your tax filing status?

    2020

    2019

    Allowable Contribution

    If your tax filing status is:

    And your modified AGI is:

    And your modified AGI is:

    Then you can contribute:

    Married filing jointly with a spouse who is covered by a plan at work

    $196,000
    $193,000
    Full/up to the limit
    $196,000 - $205,999
    $193,000 - $202,999
    Partial/a reduced amount
    $206,000 or more
    $203,000 or more
    Zero

    Married filing jointly or separatelywith a spouse who is notcovered by a plan at work

    Any amount
    Any amount
    a full deduction up to the amount of your contribution limit.

    Married filing separatelywith a spouse who iscovered by a plan at work

    Less than $10,000 Less than $10,000 Partial/a reduced amount
    $10,000 or more
    $10,000 or more
    Zero

    Single, head of household, or qualifying widow(er)

    Any amount
    Any amount
    a full deduction up to the amount of your contribution limit.

    Call us today at 919-719-7200 to easily set up your Roth IRA or to or rollover your old Roth IRA account to Place Trade!

     

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited

     


     

    How to figure the amount of your reducedRoth IRA contribution:

    According to the IRS:

     

    Amount of your reduced Roth IRA contribution 

    If the amount you can contribute must be reduced, figure your reduced contribution limit as follows.

    1. Start with your modified AGI.
    2. Subtract from the amount in (1):
      1. $196,000 if filing a joint return or qualifying widow(er),
      2. $-0- if married filing a separate return, and you lived with your spouse at any time during the year, or
      3. $124,000 for all other individuals.
    3. Divide the result in (2) by $15,000 ($10,000 if filing a joint return, qualifying widow(er), or married filing a separate return and you lived with your spouse at any time during the year).
    4. Multiply the maximum contribution limit (before reduction by this adjustment and before reduction for any contributions to traditional IRAs) by the result in (3).
    5. Subtract the result in (4) from the maximum contribution limit before this reduction. The result is your reduced contribution limit.

     

    Please see Publication 590-A, Contributions to Individual Retirement Accounts (IRAs),for more details including a worksheet to figure your reduced contribution and be sure to speak with your tax and/or legal advisor prior to making any tax-related decisions. Please reviewPublication 590-A, for specific issues related to Contributions to Individual Retirement Arrangements (IRAs) for use in preparing Tax Returns. 

     

    2019 Traditional IRA Contribution and Deduction Limits - Effect of Modified AGI on IRA Contributions

     

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited


     

     

    Learn about Rollover IRAs and how easy it is to Transfer your IRA account (from another firm) to an existing account Place Trade®

     

     

     

    What are the Roth IRA contribution limits for 2020? How much can I contribute to IRA 2018? 

    IRA Contribution Limits ~ 2016, 2017 & 2018

    Roth IRA contributions are made on an AFTER-tax basis and whether or not you are eligible to contribute is based on both your income and filing status. How much you can contribute is additionally impacted by your age with catch-up contributions for individuals age 50 and up.
    Please Note:
    For 2019 and 2020, your total contributions to all of your traditional and Roth IRAs (combined for the given tax year) cannot be more than:       

     

     

     

    Under Age 50  

     

    Total

    Under Age 50  

     

    Over Age 50

    Additional 

     Total

    Over Age 50

    2020* **

    $6,000

    Catch-up Contribution

    $1,000

    $7,000

    2019* **

    $6,000

    Catch-up Contribution

    $1,000

    $7,000

     Source: irs.gov

    You may make an eligible contribution for your 2020 Traditional or Roth IRA at any time prior to the 2020 IRS tax filing deadline which is Thursday, April 15, 2021. (Your account must be funded or have proof of postmark by this date! For brokerage accounts - please check to see our clearing firm's required cutoff date for eligible contributions.) We can generally open and fund accounts (make your contributions) with investment companies (think mutual funds) right up to the deadline (as long as you can get your contributions postmarked before the deadline).

    The same general contribution limit applies to both Roth and Traditional IRAs. However, your Roth IRA contribution might be limited based on your filing status and income.

    "Total" means your total contributions to all of your Traditional and Roth IRAs combined for the given tax year. Youcannot exceed the total amount/contribution limit regardless of how many IRAs you have or the type/types of IRA(s) that you may have.

    *Or your taxable compensation for the year.

    ** Effective for the tax year 2002 and beyond, for participants who are eligible to make an IRA contribution and have attained the age of 50 before the end of the taxable year, the participant can make a "catch-up" contribution in addition to the normal contribution amount as shown in the table above. The catch-up contribution was $500 from 2002-2005. For the year 2006 and beyond, the catch-up contribution limit will be $1000. The maximum contribution cannot exceed 100% of the actual compensation. Learn more about COLA Increases for Dollar Limitations on Benefits and Contributions from the IRS.

     

    Please note that the IRA contribution limit does not apply to:

    • Rollover contributions
    • Qualified reservist repayments

    Deductibility limits can be confusing and tax laws are frequently changing. It is always best to review your specific situation and/or circumstances with a qualified tax advisor.

    Roth IRA contributions are made on an AFTER-tax basis. What does this mean? It means that you use money that you have already paid taxes on and that you won't get a tax break on the money that you put in your Roth IRA today (like you could if you contributed to a Traditional IRA with money that you haven't paid taxes on yet).The Roth IRAadvantage: No tax break today means that(if you satisfy the requirements, qualified distributions (discussed in chapter 2 of Pub. 590-B) are tax-free. This is particularly of interest to those who believe that they will be in a higher tax bracket and would prefer not to have to pay taxes on their money when they take it out in retirement.

     

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited


     

    Can I make a contribution to an IRA after age 70½?

     

     

     

     
    Traditional IRA
     
    Roth IRA
     
     

    YES (for 2020 & later tax years)

      YES  
     

     

     

    Contributions to IRAs after age 70½

     

    Can I make a contribution to my Traditional IRA after age 70½?

    YES, you can make regular contributions to a Traditional IRA in the tax year 2020 and later tax years. (There is no age limit on making regular contributions to traditional or Roth IRAs.)

     

    Can I make a contribution to my Roth IRA after age 70½?
    Yes, you can still contribute to a Roth IRA and make rollover contributions to a Roth or traditional IRA regardless of your age.

     

     

     

    Can I make IRA contributions after age 70½

     


     

     

     

     

    Open an IRA online or call us to speak with an experienced retirement specialist who can help you roll over your old retirement account or help you start planning for a better retirement today!

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited

     

    Call us today at 1-800-50-PLACE (1-800-507-5223, 919-719-7200) for more information!>

     

     


     
     

    Please click on the links below to open and close each section:

     

     

     

    Can I contribute to a Roth IRA?  

    Although Roth IRA CONTRIBUTIONS ARE NOT TAX-DEDUCTIBLE, you must be eligible to make a contribution. Use the table below to see if you may be eligible to contribute to a Roth IRA. (This table shows whether your contribution to a Roth IRA is affected by the amount of your modified AGI as computed for Roth IRA purpose. Source: irs.gov) Please be sure to consult with your tax and/or legal advisor prior to making IRA contributions.

     

    Will your 2020 contribution to a Roth IRA be affected by the amount of your modified AGI?

     

    If your filing status is:

    2020

    And your modified AGI is:

    2019

    And your modified AGI is:

    Then you can contribute:

    Married filing jointly or qualifying widow(er)

    $196,000
    $193,000
    up to the limit
    $196,000 - $205,999
    $193,000 - $202,999
    a reduced amount
    $206,000 or more
    $203,000 or more
    zero

    Married filing separately andyou lived with your spouse at any time during the year

    Less than $10,000
    $193,000
    a reduced amount
    > $10,000
    $193,000 - $202,999
    zero
    $10,000 or more
    $203,000 or more
    zero

    Single, head of household, or married filing separately andyou did not live with your spouse at any time during the year

    Less than $124,000
    Less than $122,000
    up to the limit
    $124,000-$138,999
    $122,000-$136,999
    a reduced amount
    $139,000 or more
    $137,000 or more
    zero
    Call us today at 919-719-7200 to easily set up your Roth IRA or to or rollover your old Roth IRA account to Place Trade!

     


    For more information on IRAs, please call us at 919-719-7200 today.

     

     

     

     

    Can I contribute to a Roth IRA if I participate in a retirement plan at work?
     

    You can contribute to a Traditional or Roth IRA whether or not you (or your spouse) participate in another retirement plan through your employer or business. However, it is important to note that:

    • Traditional IRAs:You may not be able to deduct all of your traditional IRA contributions if you or your spouse participate in another retirement plan at work. View Deductibility Limits for 2019 Traditional IRAs and for 2020
    • Roth IRAs:You may not be able to make a Roth IRA contribution or your contribution may be limited if you make too much money. Please review the chart below to see if you are eligible to make a Roth IRA contribution. Please remember that Roth IRA contributions are NOT tax-deductible.

     


     

     

     

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited


     

     

     

     

     

    Will your 2020 contribution to a Roth IRA be affected by the amount of your modified AGI?

     

    If You ARE Covered by a Retirement Plan at Work

    If you (or your spouse) are covered by a retirement plan at work, your modified AGI affects the amount of your deduction/the amount that you can contribute and receive a deduction. For example, if you receive a full deduction you can contribute up to the limit of $6,000 (under 50) or $7,000 (50 and up) for both 2019 & 2020.

    If your filing status is:

    2020

    And your modified AGI is:

    2019

    And your modified AGI is:

    Then you can contribute:

    Married filing jointly or qualifying widow(er)

    Less than $104,000
    $103,000 or less
    up to the limit
    $104,000but less than $124,999
    $103,000but less than $123,999
    a reduced amount
    $124,000 or more
    $123,000 or more
    Zero

    Married filing separately andyou lived with your spouse at any time during the year

    Less than $10,000
    Less than $10,000
    a reduced amount
    > $10,000
    > $10,000
    Zero
    $10,000 or more
    $10,000 or more
    Zero

    Single, head of household, or married filing separately andyou did not live with your spouse at any time during the year

    Less than $65,000
    Less than $64,000
    up to the limit
    $65,000 but less than $75,000
    $64,000 but less than $74,000
    a reduced amount
    $75,000 or more
    $74,000 or more
    Zero
    Call us today at 919-719-7200 to easily set up your Roth IRA or to or rollover your old Roth IRA account to Place Trade!

     

     


     

     

     

     

    2020 IRA Contribution and Deduction Limits Effect of Modified AGI on Deductible Contributions

     

    If You are NOT Covered by a Retirement Plan at Work

     

    What is your tax filing status?

    2020

    2019

    Allowable Contribution

    If your tax filing status is:

    And your modified AGI is:

    And your modified AGI is:

    Then you can contribute:

    Married filing jointly with a spouse who is covered by a plan at work

    $196,000
    $193,000
    Full/up to the limit
    $196,000 - $205,999
    $193,000 - $202,999
    Partial/a reduced amount
    $206,000 or more
    $203,000 or more
    Zero

    Married filing jointly or separatelywith a spouse who is notcovered by a plan at work

    Any amount
    Any amount
    a full deduction up to the amount of your contribution limit.

    Married filing separatelywith a spouse who iscovered by a plan at work

    Less than $10,000 Less than $10,000 Partial/a reduced amount
    $10,000 or more
    $10,000 or more
    Zero

    Single, head of household, or qualifying widow(er)

    Any amount
    Any amount
    a full deduction up to the amount of your contribution limit.

    Call us today at 919-719-7200 to easily set up your Roth IRA or to or rollover your old Roth IRA account to Place Trade!

     

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited

     

     

     


     

     

     

    Can I contribute to both a Roth IRA and a Traditional IRA in the same year?

     

    Yes, if eligible, you can contribute to both a Traditional and Roth IRA in the same tax year. However, it is important to note thatyour total contributions to all of your traditional and Roth IRAs (combined for the given tax year) cannot be more than you are eligible for under the given year's IRA Contribution Limits. You cannot double down and put the maximum in each.

    Think of it like this: if you are under 50* and you are fully eligible to make the maximum contribution for the year ($6,000 in 2019 & $6,000 for 2020), You can put a total of the maximum away ($6,000 in 2019 and another $6,000 in 2020) in either a Roth, a Traditional IRA or in any combination of the two as long as you do not exceed the annual contribution limit. *50 and over allows catch up contributions of an additional $1,000.

     

       

     

    For example,

    You could split it 50/50 and put $3,000 in each or you could put $500 in your Roth IRA and $5,500 in your Traditional IRA.

    You can split it up any way that you would like - just keep in mind that it may not make sense to have an IRA with a super low balance in it because you may not be able to do much with it (as far as diversifying goes) and you may incur account fees (at most firms) that could eat into your long term saving goals. 

     

       

     

    The amount that you put in the Traditional IRA will be tax-deductible now and the amount that you put in the Roth will receive tax benefits when you take the money out (unless there are changes to the tax laws or you take an unqualified distribution - which, of course, we do not recommend).  

    *If you are 50 or better, you get to add even more money thanks to your Catch-up contributions!

     

     

    Can I make a contribution to an IRA after age 70½?

     

     

     

     
    Traditional IRA
     
    Roth IRA
     
      NO   YES  
     

     

     

    Contributions to IRAs after age 70½

     

    Can I make a contribution to my Traditional IRA after age 70½?
    No, you cannot make regular contributions to a Traditional IRA in the year you reach 70½ and older.

     

    Can I make a contribution to my Roth IRA after age 70½?
    Yes, you can still contribute to a Roth IRA and make rollover contributions to a Roth or traditional IRA regardless of your age.

     

     


     

     

     

     

     

     

    Interest Paid on Idle Cash Balances

     

     

     

    Interest Paid on Idle Cash Balances

     

     

     

     

     

    Interest Paid on Idle Cash Balances

    1

     

     

    Disclosures
    1. Credit balances greater than USD 10,000 (or equivalent) in accounts with a NAV of less than USD 100,000 (or equivalent) will be paid interest at a proportional rate. For accounts holding credit balances in currencies carrying a negative interest rate, the negative rate will be applied to accounts with balances of at least USD 100,000 (or equivalent), but smaller credit balances will not be charged the negative rate.

     

     
       

     

      

     Get More Info About Retirement Planning with these Related Links:

     

     

     

    Retirement Planning

    Traditional IRA

    Roth IRA

    SEP IRA

    SIMPLE IRA

    Qualified Plans

    Rollover IRAs

    401(k) Rollover

    Leaving your old 401(k) behind

    Cashing Out of your 401(k)

    Switching Jobs? Know your Options

    From Ramen to Retirement

    Get Advice or Trade Online

    Can I Trade Options or on Margin in my IRA? Yes

    Important Information about IRAs in your Place Trade Brokerage Account

     

     

    Should you have further questions, please contact our Client Service Center at 919-719-7200. Additionally, you may contact us via live chat or secure message (by logging in to Account Managementfor assistance.

     

    ________________________________________________________________________

    Important Notes:IRA contribution deadline 2018

    • *MA residents may make prior year 2018 IRA contributions thru Tuesday, April 16, 2019.
    • Please be sure to check with your tax and/or legal advisor prior to making any contributions, withdrawals or other changes to your retirement account. Place Trade Financial, Inc. does not offer tax or legal advice. Information provided by Place Trade is for educational purposes and should not be considered as tax or legal advice under any circumstances.
    • Please view IRS Publication 590: Publication 590-A (Contributions to Individual Retirement Arrangements (IRAs)) and IRS Publication 590-B Distributions from Individual Retirement Arrangements (IRAs) for more details and speak with your tax advisor prior to making any decisions.
    • Please be sure to look for the matching tax year when reviewing IRS Publication 590 (Publications 590-A and 590-A). We have included these links to the IRS website's pages covering Publications 590-A and 590-A for your convenience. The IRS site still shows the 2016 publications as of January 2018.
     

    What is an IRA? 

    IRA contribution deadline 2020

    Open a Roth IRA today and enjoy after-tax benefits while you save for retirement.

     

     

    Learn about Traditional IRAs
     

     


     

    Roth IRA Limits 2019     Traditional IRA Contribution Limits 2019

    What is the deadline for contributing to an IRA? What is the deadline for contributing to an IRA for 2020? 

    Traditional & Roth IRA Contribution Deadlines

     

     
    Roth IRA Contribution Limits
     
    Learn about Roth IRAs

     

  • How much money can I put in a Roth IRA? | 2021 Roth IRA Contribution & Deduction Limits

     

    Retirement Planning > Individual Investors > RothIRAsWhat is the deadline for contributing to an IRA? What is the deadline for contributing to an IRA for 2021? How much can I contribute to my IRA for 2021 or 2020? What are the IRA contribution limits for 2021 and 2020?

    What is a Roth IRA and how does it work? How much does a Roth IRA earn yearly? Who is eligible for a Roth IRA?

     

    Roth IRA Contribution and Deduction Limits ~ 2021


    Traditional IRAs

    Roth IRAs

    Rollover IRAs IRA FAQs

    Funding Reference


    How much can I contribute to a Roth IRA (if I am eligible to make a contribution)?


    Quick Links:

    What are the Roth IRA Contribution Limits? For both 2020 & 2021: $6,000 ($7,000 age 50 and better) 

    What is the deadline for contributing to an IRA? 

    Am I eligible to make a tax-deductible IRA contribution? Is my Roth contribution tax-deductible? 

    How late can you contribute to a Roth IRA for 2021? What is the deadline for making a Roth IRA contribution?

     

    What are the Roth IRA contribution limits for 2021? How much can I contribute to IRA 2021? 

    IRA Contribution Limits

    Roth IRA contributions are made on an AFTER-tax basis and whether or not you are eligible to contribute is based on both your income and filing status. How much you can contribute is additionally impacted by your age with catch-up contributions for individuals age 50 and up.

    Important Note:

    For both the 2021 and 2020 tax years, your total contributions to all of your traditional and Roth IRAs (combined for the given tax year) cannot be more than:       

     

    Under Age 50  

     

    Total

    Under Age 50  

     

    Over Age 50

    Additional 

     Total

    Over Age 50

    2021* **

    $6,000

    Catch-up Contribution

    $1,000

    $7,000

    2020* **

    $6,000

    Catch-up Contribution

    $1,000

    $7,000

     Source: irs.gov

    You may make an eligible contribution for tax year:

    2021 Traditional or Roth IRA at any time prior to the 2021 IRS tax filing deadline which is Friday, April 15, 2022 (Tuesday, April 19, 2022, for Maine and Massachusetts residents).

    2020 Traditional or Roth IRA at any time prior to the 2020 IRS tax filing deadline which is Thursday, April 15, 2021.

    Important Note: Your account must be funded or have proof of postmark by this date! For brokerage accounts - please check to see our clearing firm's required cutoff date for eligible contributions. We can generally open and fund accounts (make your contributions) with investment companies (think mutual funds) right up to the deadline (as long as you can get your contributions postmarked before the deadline).

    The same general contribution limit applies to both Roth and Traditional IRAs. However, your Roth IRA contribution might be limited based on your filing status and income.

     

    Total" means your total contributions to all of your Traditional and Roth IRAs combined for the given tax year. You cannot exceed the total amount/contribution limit regardless of how many IRAs you have or the type/types of IRA(s) that you may have.

    *Or your taxable compensation for the year.

    ** Effective for the tax year 2002 and beyond, for participants who are eligible to make an IRA contribution and have attained the age of 50 before the end of the taxable year, the participant can make a "catch-up" contribution in addition to the normal contribution amount as shown in the table above. The catch-up contribution was $500 from 2002-2005. For the year 2006 and beyond, the catch-up contribution limit will be $1000. The maximum contribution cannot exceed 100% of the actual compensation. Learn more about COLA Increases for Dollar Limitations on Benefits and Contributions from the IRS.

     

     

    Please note that the IRA contribution limit does not apply to:

    • Rollover contributions
    • Qualified reservist repayments

     

    Deductibility limits can be confusing and tax laws are frequently changing. It is always best to review your specific situation and/or circumstances with a qualified tax advisor.

    Roth IRA contributions are made on an AFTER-tax basis. What does this mean? It means that you use money that you have already paid taxes on and that you won't get a tax break on the money that you put in your Roth IRA today (like you could if you contributed to a Traditional IRA with money that you haven't paid taxes on yet).The Roth IRAadvantage: No tax break today means that you should not have to pay taxes on your money when you take it out in retirement.

     

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited


     


     

    What is the deadline for contributing to an IRA? What is the deadline for contributing to an IRA for 2018? 

    Traditional & Roth IRA Contribution Deadlines

     

     

    2021

    For the 2021 tax year (ending December 31, 2021), you can make eligible contributions to an IRA (Traditional or Roth IRA) between January 1, 2021 and Friday, April 15, 2022.

     

    2020

    For the 2020 tax year (ending December 31, 2020), you can make eligible contributions to an IRA (Traditional or Roth IRA) between January 1, 2020 and Monday, April 15, 2021.

     

     

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited


     

    Can I still put money in my IRA for last year? What is the deadline to contribute to an IRA for this year or last year?
    Why Should You Open an IRA? Why Should I Open an IRA?

    Are you eligible to make a Roth IRA contribution?

    First, Let's double-check to see which type of retirement account you want to contribute to today. If you are looking for a tax break and wish to make a tax-deductible contribution today, then you should consider a Traditional IRA instead of a Roth IRA. If you want to make an after-tax contribution to your retirement plan today, then you should continue on this page and check out our Roth IRA page for more information as well. 

     

     
    Is my Roth contribution tax-deductible?

     

    No, Roth IRA contributions are not tax-deductible. If you would prefer to enjoy the tax benefits when you take the money out then you should continue reading below. Otherwise >>>

     

     
    I want to make a tax-deductiblecontribution to my retirement plan!

     

    Since Roth IRA contributions are not deductible, you may wish to consider contributing to a Traditional IRA instead.

     

     

     

    Whether or not you are eligible to make a (non-deductible) Roth IRA contribution this year depends on several factors. To help you get started, we have listed a few of the important questions that you should ask yourself (and review with your tax and/or legal advisor) to find out if you may be eligible to make a contribution to your Roth IRA this year:

     

     

    Can I contribute to a Roth IRA? 

     

    Will your 2021 contribution to a Roth IRA be affected by the amount of your modified AGI (how much you earn for tax purposes)?

     

    How to figure the amount of your reduced Roth IRA contribution 

     

    Can I contribute to a Roth IRA if I participate in a retirement plan at work?

     

    Can I contribute to both a Roth IRA and a Traditional IRA in the same year?

     

    How much can I contribute to a Roth IRA (if I am eligible)? 

     

    Can I make a contribution to an IRA after age 70½? 

     

     

     

    Find out if you can make an after-tax (non-deductible) contribution to your Roth IRA based on your personal situation. Will the effect of modified AGI impact your ability to make a contribution to your Roth IRA? Be sure to review your personal situation with your tax advisor prior to making any tax-related decisions or investments.

          

    IRAs - Traditional, Roth, SEP, Rollovers and InheritedIs my IRA contribution deductible? Can I deduct my ira contribution? Is my Roth IRA Contribution deductible? Can I deduct the money that I put in my Roth IRA?

     


    Can you contribute to an IRA if you have a retirement plan at work?

    How much can I contribute to IRA 2018?

    Can I contribute to a Roth IRA if I participate in a retirement plan at work?
     

    You can contribute to a Traditional or Roth IRA whether or not you (or your spouse) participate in another retirement plan through your employer or business. However, it is important to note that:

    • Traditional IRAs:You may not be able to deduct all of your traditional IRA contributions if you or your spouse participate in another retirement plan at work. View Deductibility Limits for 2021 Traditional IRAs and for 2020.
    • Roth IRAs:You may not be able to make a Roth IRA contribution or your contribution may be limited if you make too much money. Please review the chart below to see if you are eligible to make a Roth IRA contribution. Please remember that Roth IRA contributions are NOT tax-deductible.

     


     

     

    Can I contribute to both a Roth IRA and a Traditional IRA in the same year?

     

    Yes, if eligible, you can contribute to both a Traditional and Roth IRA in the same tax year. However, it is important to note thatyour total contributions to all of your traditional and Roth IRAs (combined for the given tax year) cannot be more than you are eligible for under the given year's IRA Contribution Limits. You cannot double down and put the maximum in each.

    Think of it like this: if you are under 50* and you are fully eligible to make the maximum contribution for the year ($6,000 in 2021 & $6,000 for 2020), you can put a total of the maximum away ($6,000 in 2020 and another $6,000 in 2021) in either a Roth, a Traditional IRA or in any combination of the two as long as you do not exceed the annual contribution limit. *50 and over allows catch up contributions of an additional $1,000.

     

       

     

    For example,

    You could split it 50/50 and put $3,000 in each or you could put $500 in your Roth IRA and $5,500 in your Traditional IRA.

    You can split it up any way that you would like - just keep in mind that it may not make sense to have an IRA with a super low balance in it because you may not be able to do much with it (as far as diversifying goes) and you may incur account fees (at most firms) that could eat into your long term saving goals. 

     

       

     

    The amount that you put in the Traditional IRA will be tax-deductible now and the amount that you put in the Roth will receive tax benefits when you take the money out (unless there are changes to the tax laws or you take an unqualified distribution - which, of course, we do not recommend). 

    *If you are 50 or better, you get to add even more money thanks to your Catch-up contributions!

     


    IRAs - Traditional, Roth, SEP, Rollovers and Inherited

     

    Can I contribute to a Roth IRA?  

    Although Roth IRA CONTRIBUTIONS ARE NOT TAX-DEDUCTIBLE, you must be eligible to make a contribution. Use the table below to see if you may be eligible to contribute to a Roth IRA. (This table shows whether your contribution to a Roth IRA is affected by the amount of your modified AGI as computed for Roth IRA purpose. Source: irs.gov) Please be sure to consult with your tax and/or legal advisor prior to making IRA contributions.

     

    Will your 2021 contribution to a Roth IRA be affected by the amount of your modified AGI?

     

    If your filing status is:

    2021

    And your modified AGI is:

    2020

    And your modified AGI is:

    Then you can contribute:

    Married filing jointly or qualifying widow(er)

    $198,000
    $196,000
    up to the limit
    $198,000 - $207,999
    $196,000 - $205,999
    a reduced amount
    $208,000 or more
    $206,000 or more
    zero

    Married filing separately andyou lived with your spouse at any time during the year

    Less than $10,000
    Less than $10,000
    a reduced amount
    > $10,000
    > $10,000
    zero
    $10,000 or more
    $10,000 or more
    zero

    Single, head of household, or married filing separately andyou did not live with your spouse at any time during the year

    Less than $125,000
    Less than $124,000
    up to the limit
    $125,000-$140,999
    $124,000-$138,999
    a reduced amount
    $140,000 or more
    $139,000 or more
    zero
    Call us today at 919-719-7200 to easily set up your Roth IRA or to or rollover your old Roth IRA account to Place Trade!

     

     

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited 


     

     

    Can I contribute to a Roth IRA if I am covered by a retirement plan at work?

     

    Will your 2021 contribution to a Roth IRA be affected by the amount of your modified AGI?

     

    If You ARE Covered by a Retirement Plan at Work

     

    If your filing status is:

    2021

    And your modified AGI is:

    2020

    And your modified AGI is:

    Then you can contribute:

    Married filing jointly or qualifying widow(er)

    Less than $105,000
    $104,000 or less
    up to the limit
    $105,000but less than $124,999
    $104,000but less than $124,999
    a reduced amount
    $125,000 or more
    $124,000 or more
    Zero

    Married filing separately andyou lived with your spouse at any time during the year

    Less than $10,000
    Less than $10,000
    a reduced amount
    > $10,000
    > $10,000
    Zero
    $10,000 or more
    $10,000 or more
    Zero

    Single, head of household, or married filing separately andyou did not live with your spouse at any time during the year

    Less than $66,000
    Less than $65,000
    up to the limit
    $66,000 but less than $76,000
    $65,000 but less than $75,000
    a reduced amount
    $76,000 or more
    $75,000 or more
    Zero
    Call us today at 919-719-7200 to easily set up your Roth IRA or to or rollover your old Roth IRA account to Place Trade!

     

     

     

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited


     

     

    2020 & 2021 IRA Contribution and Deduction Limits Effect of Modified AGI on Deductible Contributions

     

    If You are NOT Covered by a Retirement Plan at Work

     

    What is your tax filing status?

    2021

    2020

    Allowable Contribution

    If your tax filing status is:

    And your modified AGI is:

    And your modified AGI is:

    Then you can contribute:

    Married filing jointly with a spouse who is covered by a plan at work

    $198,000
    $196,000
    Full/up to the limit
    $198,000 - $207,999
    $196,000 - $205,999
    Partial/a reduced amount
    $208,000 or more
    $206,000 or more
    Zero

    Married filing jointly or separatelywith a spouse who is notcovered by a plan at work

    Any amount
    Any amount
    a full deduction up to the amount of your contribution limit.

    Married filing separatelywith a spouse who iscovered by a plan at work

    Less than $10,000 Less than $10,000 Partial/a reduced amount
    $10,000 or more
    $10,000 or more
    Zero

    Single, head of household, or qualifying widow(er)

    Any amount
    Any amount
    a full deduction up to the amount of your contribution limit.

    Call us today at 919-719-7200 to easily set up your Roth IRA or to or rollover your old Roth IRA account to Place Trade!

     

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited

     


     

    How to figure the amount of your reducedRoth IRA contribution:

    According to the IRS:

     

    Amount of your reduced Roth IRA contribution 

    If the amount you can contribute must be reduced, figure your reduced contribution limit as follows.

    1. Start with your modified AGI.
    2. Subtract from the amount in (1):
      1. $198,000 if filing a joint return or qualifying widow(er),
      2. $-0- if married filing a separate return, and you lived with your spouse at any time during the year, or
      3. $125,000 for all other individuals.
    3. Divide the result in (2) by $15,000 ($10,000 if filing a joint return, qualifying widow(er), or married filing a separate return and you lived with your spouse at any time during the year).
    4. Multiply the maximum contribution limit (before reduction by this adjustment and before reduction for any contributions to traditional IRAs) by the result in (3).
    5. Subtract the result in (4) from the maximum contribution limit before this reduction. The result is your reduced contribution limit.

     

    Please see Publication 590-A, Contributions to Individual Retirement Accounts (IRAs),for more details including a worksheet to figure your reduced contribution and be sure to speak with your tax and/or legal advisor prior to making any tax-related decisions. Please reviewPublication 590-A, for specific issues related to Contributions to Individual Retirement Arrangements (IRAs) for use in preparing Tax Returns. 

     

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited 

     

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited


     

     

    Learn about Rollover IRAs and how easy it is to Transfer your IRA account (from another firm) to an existing account Place Trade®

     

     

     

    What are the Roth IRA contribution limits for 2021? How much can I contribute to IRA 2018? 

    IRA Contribution Limits ~ 2016, 2017 & 2018

    Roth IRA contributions are made on an AFTER-tax basis and whether or not you are eligible to contribute is based on both your income and filing status. How much you can contribute is additionally impacted by your age with catch-up contributions for individuals age 50 and up.
    Please Note:
    For 2021 and 2020, your total contributions to all of your traditional and Roth IRAs (combined for the given tax year) cannot be more than:       

     

     

     

    Under Age 50  

     

    Total

    Under Age 50  

     

    Over Age 50

    Additional 

     Total

    Over Age 50

    2021* **

    $6,000

    Catch-up Contribution

    $1,000

    $7,000

    2020* **

    $6,000

    Catch-up Contribution

    $1,000

    $7,000

     Source: irs.gov

    You may make an eligible contribution for your tax year:

    2021 Traditional or Roth IRA at any time prior to the 2021 IRS tax filing deadline which is Friday, April 15, 2022 (Tuesday, April 19, 2022, for Maine and Massachusetts residents).

    2020 Traditional or Roth IRA at any time prior to the 2020 IRS tax filing deadline which is Thursday, April 15, 2021.

    Important Note: Your account must be funded or have proof of postmark by this date! For brokerage accounts - please check to see our clearing firm's required cutoff date for eligible contributions. We can generally open and fund accounts (make your contributions) with investment companies (think mutual funds) right up to the deadline (as long as you can get your contributions postmarked before the deadline).

    The same general contribution limit applies to both Roth and Traditional IRAs. However, your Roth IRA contribution might be limited based on your filing status and income.

     

    "Total" means your total contributions to all of your Traditional and Roth IRAs combined for the given tax year. Youcannot exceed the total amount/contribution limit regardless of how many IRAs you have or the type/types of IRA(s) that you may have.

    *Or your taxable compensation for the year.

    ** Effective for the tax year 2002 and beyond, for participants who are eligible to make an IRA contribution and have attained the age of 50 before the end of the taxable year, the participant can make a "catch-up" contribution in addition to the normal contribution amount as shown in the table above. The catch-up contribution was $500 from 2002-2005. For the year 2006 and beyond, the catch-up contribution limit will be $1000. The maximum contribution cannot exceed 100% of the actual compensation. Learn more about COLA Increases for Dollar Limitations on Benefits and Contributions from the IRS.

     

     

    Please note that the IRA contribution limit does not apply to:

    • Rollover contributions
    • Qualified reservist repayments

     

    Deductibility limits can be confusing and tax laws are frequently changing. It is always best to review your specific situation and/or circumstances with a qualified tax advisor.

     

    Roth IRA contributions are made on an AFTER-tax basis. What does this mean?

    It means that you use money that you have already paid taxes on and that you won't get a tax break on the money that you put in your Roth IRA today (like you could if you contributed to a Traditional IRA with money that you haven't paid taxes on yet).The Roth IRAadvantage: No tax break today means that(if you satisfy the requirements, qualified distributions (discussed in chapter 2 of Pub. 590-B) are tax-free. This is particularly of interest to those who believe that they will be in a higher tax bracket and would prefer not to have to pay taxes on their money when they take it out in retirement.

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited


     

    Can I make a contribution to an IRA after age 70½?

     

     

     

     
    Traditional IRA
     
    Roth IRA
     
     

    YES (for 2020 & later tax years)

      YES  
     

     

     

    Contributions to IRAs after age 70½

     

    Can I make a contribution to my Traditional IRA after age 70½?

    YES, you can make regular contributions to a Traditional IRA in the tax year 2020 and later tax years. (There is no age limit on making regular contributions to traditional or Roth IRAs.)

     

    Can I make a contribution to my Roth IRA after age 70½?
    Yes, you can still contribute to a Roth IRA and make rollover contributions to a Roth or traditional IRA regardless of your age.

     

     

     

    Can I make IRA contributions after age 70½?

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited


     

     

     

     

    Open an IRA online or call us to speak with an experienced retirement specialist who can help you roll over your old retirement account or help you start planning for a better retirement today!

     

     

    Call us today at 1-800-50-PLACE (1-800-507-5223, 919-719-7200) for more information!>

     

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited 


     
     

    Please click on the links below to open and close each section:

     

     

     

    Can I contribute to a Roth IRA?  

    Although Roth IRA CONTRIBUTIONS ARE NOT TAX-DEDUCTIBLE, you must be eligible to make a contribution. Use the table below to see if you may be eligible to contribute to a Roth IRA. (This table shows whether your contribution to a Roth IRA is affected by the amount of your modified AGI as computed for Roth IRA purpose. Source: irs.gov) Please be sure to consult with your tax and/or legal advisor prior to making IRA contributions.

     

    Will your 2021 contribution to a Roth IRA be affected by the amount of your modified AGI?

     

    If your filing status is:

    2021

    And your modified AGI is:

    2020

    And your modified AGI is:

    Then you can contribute:

    Married filing jointly or qualifying widow(er)

    $198,000
    $196,000
    up to the limit
    $198,000 - $207,999
    $196,000 - $205,999
    a reduced amount
    $208,000 or more
    $206,000 or more
    zero

    Married filing separately andyou lived with your spouse at any time during the year

    Less than $10,000
    Less than $10,000
    a reduced amount
    > $10,000
    > $10,000
    zero
    $10,000 or more
    $10,000 or more
    zero

    Single, head of household, or married filing separately andyou did not live with your spouse at any time during the year

    Less than $125,000
    Less than $124,000
    up to the limit
    $125,000-$140,999
    $124,000-$138,999
    a reduced amount
    $140,000 or more
    $139,000 or more
    zero
    Call us today at 919-719-7200 to easily set up your Roth IRA or to or rollover your old Roth IRA account to Place Trade!

     

     


     

     

     

     

    Can I contribute to a Roth IRA if I participate in a retirement plan at work?
     

    You can contribute to a Traditional or Roth IRA whether or not you (or your spouse) participate in another retirement plan through your employer or business. However, it is important to note that:

    • Traditional IRAs:You may not be able to deduct all of your traditional IRA contributions if you or your spouse participate in another retirement plan at work. Please Review Deductibility Limits for Traditional IRAs.
    • Roth IRAs:You may not be able to make a Roth IRA contribution or your contribution may be limited if you make too much money. Please review the chart below to see if you are eligible to make a Roth IRA contribution. Please remember that Roth IRA contributions are NOT tax-deductible.

     


     

     

     

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited


     

     

     

     

     

     

    Can I contribute to a Roth IRA if I am covered by a retirement plan at work?

     

    Will your 2021 contribution to a Roth IRA be affected by the amount of your modified AGI?

     

    If You ARE Covered by a Retirement Plan at Work

     

    If your filing status is:

    2021

    And your modified AGI is:

    2020

    And your modified AGI is:

    Then you can contribute:

    Married filing jointly or qualifying widow(er)

    Less than $105,000
    $104,000 or less
    up to the limit
    $105,000but less than $124,999
    $104,000but less than $124,999
    a reduced amount
    $125,000 or more
    $124,000 or more
    Zero

    Married filing separately andyou lived with your spouse at any time during the year

    Less than $10,000
    Less than $10,000
    a reduced amount
    > $10,000
    > $10,000
    Zero
    $10,000 or more
    $10,000 or more
    Zero

    Single, head of household, or married filing separately andyou did not live with your spouse at any time during the year

    Less than $66,000
    Less than $65,000
    up to the limit
    $66,000 but less than $76,000
    $65,000 but less than $75,000
    a reduced amount
    $76,000 or more
    $75,000 or more
    Zero
    Call us today at 919-719-7200 to easily set up your Roth IRA or to or rollover your old Roth IRA account to Place Trade!

     

     


     

     

     

     

     

    2020 & 2021 IRA Contribution and Deduction Limits Effect of Modified AGI on Deductible Contributions

     

    If You are NOT Covered by a Retirement Plan at Work

     

    What is your tax filing status?

    2021

    2020

    Allowable Contribution

    If your tax filing status is:

    And your modified AGI is:

    And your modified AGI is:

    Then you can contribute:

    Married filing jointly with a spouse who is covered by a plan at work

    $198,000
    $196,000
    Full/up to the limit
    $198,000 - $207,999
    $196,000 - $205,999
    Partial/a reduced amount
    $208,000 or more
    $206,000 or more
    Zero

    Married filing jointly or separatelywith a spouse who is notcovered by a plan at work

    Any amount
    Any amount
    a full deduction up to the amount of your contribution limit.

    Married filing separatelywith a spouse who iscovered by a plan at work

    Less than $10,000 Less than $10,000 Partial/a reduced amount
    $10,000 or more
    $10,000 or more
    Zero

    Single, head of household, or qualifying widow(er)

    Any amount
    Any amount
    a full deduction up to the amount of your contribution limit.

    Call us today at 919-719-7200 to easily set up your Roth IRA or to or rollover your old Roth IRA account to Place Trade!

     

     

     

     


     

     

     

     

    Can I contribute to both a Roth IRA and a Traditional IRA in the same year?

     

    Yes, if eligible, you can contribute to both a Traditional and Roth IRA in the same tax year. However, it is important to note that your total contributions to all of your traditional and Roth IRAs (combined for the given tax year) cannot be more than you are eligible for under the given year's IRA Contribution Limits. You cannot double down and put the maximum in each.

    Think of it like this: if you are under 50* and you are fully eligible to make the maximum contribution for the year ($6,000 in 2020 & $6,000 for 2021, You can put a total of the maximum away ($6,000 in 2020 and another $6,000 in 2021) in either a Roth, a Traditional IRA or in any combination of the two as long as you do not exceed the annual contribution limit. *50 and over allows catch-up contributions of an additional $1,000.

     

       

     

    For example,

    You could split it 50/50 and put $3,000 in each or you could put $500 in your Roth IRA and $5,500 in your Traditional IRA.

    You can split it up any way that you would like - just keep in mind that it may not make sense to have an IRA with a super low balance in it because you may not be able to do much with it (as far as diversifying goes) and you may incur account fees (at most firms) that could eat into your long term saving goals. 

     

       

     

    The amount that you put in the Traditional IRA will be tax-deductible now and the amount that you put in the Roth will receive tax benefits when you take the money out (unless there are changes to the tax laws or you take an unqualified distribution - which, of course, we do not recommend).

    *If you are 50 or better, you get to add even more money thanks to your Catch-up contributions!

     

     

     

    Can I make a contribution to an IRA after age 70½?

     

     

     

     
    Traditional IRA
     
    Roth IRA
     
     

    YES (for 2020 & later tax years)

      YES  
     

     

     

    Contributions to IRAs after age 70½

     

    Can I make a contribution to my Traditional IRA after age 70½?

    YES, you can make regular contributions to a Traditional IRA in the tax year 2020 and later tax years. (There is no age limit on making regular contributions to traditional or Roth IRAs.)

     

    Can I make a contribution to my Roth IRA after age 70½?
    Yes, you can still contribute to a Roth IRA and make rollover contributions to a Roth or traditional IRA regardless of your age.

     

     

     


     

     

     

     

     

     

    Do I have to take a Required Minimum Distribution (RMD) from my Roth IRA?

     

    No!

     

    When it comes to RMDs, Roth IRAs are different from Traditional IRAs. Although you must take required minimum distributions (RMDs) from a Traditional IRA once you reach age 72 you do NOT have to take a RMD from a Roth IRA during your lifetime.

     

    RMDs for Inherited Roth IRAs (like Inherited Traditional IRAs): Your beneficiaries may have to take RMDs to avoid IRS penalties and should speak with their tax advisors regarding the special requirements involved with inherited IRAs.

     


     

     

     

     

     

     

     

     

     

     

     

     
       

     

      

     Get More Info About Retirement Planning with these Related Links:

     

     

     

     

    Retirement Planning

    Traditional IRA

    Roth IRA

    SEP IRA

    SIMPLE IRA

    Qualified Plans

    Rollover IRAs

    401(k) Rollover

    Leaving your old 401(k) behind

    Cashing Out of your 401(k)

    Switching Jobs? Know your Options

    From Ramen to Retirement

    Get Advice or Trade Online

    Can I Trade Options or on Margin in my IRA? Yes

    Important Information about IRAs in your Place Trade Brokerage Account

     

     

    Should you have further questions, please contact our Client Service Center at 919-719-7200. Additionally, you may contact us via live chat or secure message (by logging in to Account Managementfor assistance.

     


    ____________________________________________________________________________________________

    Important Notes:IRA contribution deadline 2018

    • *Maine and Massachusetts residents may make prior year 2021 IRA contributions through Tuesday, April 19, 2022.
    • Please be sure to check with your tax and/or legal advisor prior to making any contributions, withdrawals or other changes to your retirement account. Place Trade Financial, Inc. does not offer tax or legal advice. Information provided by Place Trade is for educational purposes and should not be considered as tax or legal advice under any circumstances.
    • Please view IRS Publication 590: Publication 590-A (Contributions to Individual Retirement Arrangements (IRAs)) and IRS Publication 590-B Distributions from Individual Retirement Arrangements (IRAs) for more details and speak with your tax advisor prior to making any decisions.
    • Please be sure to look for the matching tax year when reviewing IRS Publication 590 (Publications 590-A and 590-A). 
     

    What is an IRA? 

    IRA contribution deadline 2020

    Open a Roth IRA today and enjoy after-tax benefits while you save for retirement.

     

     

    Learn about Traditional IRAs
     

     


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    What is the deadline for contributing to an IRA? What is the deadline for contributing to an IRA for 2021? 

    Traditional & Roth IRA Contribution Deadlines

     

     
    Roth IRA Contribution Limits
     
    Learn about Roth IRAs

     

    At what age do I have to start taking Required Minimum Distributions (RMDs) from my Roth IRA? You do not have to take an RMD from your Roth IRA.
  • How much money can I put in a Roth IRA? | Roth IRA Contribution & Deduction Limits ~ 2017

     

    Retirement Planning > Individual Investors > Roth IRAs  What is the deadline for contributing to an IRA? What is the deadline for contributing to an IRA for 2017? How much can I contribute to IRA 2017 or 2018? What are the IRA contribution limits for 2017 and 2018?

     

    Traditional IRAs

    Roth IRAs

    Rollover IRAs IRA FAQs

    Funding Reference

    Roth IRA Contribution and Deduction Limits ~ 2018

     

     

    Roth IRA Contribution and Deduction Limits ~ 2017

    How much can I contribute to a Roth IRA (if I am eligible to make a contribution)?


    Quick Links:

    Am I eligible to make a tax-deductible IRA contribution? Is my Roth contribution tax-deductible? 

    What are the Roth IRA contribution limits for 2017? Traditional & Roth IRA Contribution Limits ~ 2016, 2017 & 2018

    What is the deadline for contributing to an IRA? 

     


     

    Roth IRA Limits 2017     Traditional IRA Contribution Limits 2018

    What is the deadline for contributing to an IRA? What is the deadline for contributing to an IRA for 2017? 

    2017 Traditional or Roth IRA Deadline:

    You may make a contribution for your 2017 Traditional or Roth IRA at any time prior to the 2017 IRS tax filing deadline which is on Tuesday, April 17, 2018.*

    Why do we have extra time to file our taxes this year? (Click)

     

     
    Roth IRA Contribution Limits
     
    Learn about Roth IRAs

     

     

    Why Should You Open an IRA? Why Should I Open an IRA?

    Are you eligible to make a Roth IRA contribution?

    First, Let's double check to see which type of retirement account you want to contribute to today. If you are looking for a tax break and wish to make a tax-deductible contribution today, then you should consider a Traditional IRA instead of a Roth IRA. If you want to make an after-tax contribution to your retirement plan today, then you should continue on this page and check out our Roth IRA page for more information as well. 

     

     
    Is my Roth contribution tax-deductible?

     

    No, Roth IRA contributions are not tax-deductible. If you would prefer to enjoy the tax benefits when you take the money out then you should continue reading below. Otherwise >>>

     

     
    I want to make a tax-deductiblecontribution to my retirement plan!

     

    Since Roth IRA contributions are not deductible, you may wish to consider contributing to a Traditional IRA instead.

     

     

     

    Whether or not you are eligible to make a (non-deductible) Roth IRA contribution this year depends on several factors. To help you get started, we have listed a few of the important questions that you should ask yourself (and review with your tax and/or legal advisor) to find out if you may be eligible to make a contribution to your Roth IRA this year:

     

     

    Can I contribute to a Roth IRA? 

     

    Will your 2017 contribution to a Roth IRA be affected by the amount of your modified AGI (how much you earn for tax purposes)?

     

    How to figure the amount of your reduced Roth IRA contribution 

     

    Can I contribute to a Roth IRA if I participate in a retirement plan at work?

     

    Can I contribute to both a Roth IRA and a Traditional IRA in the same year?

     

    How much can I contribute to a Roth IRA (if I am eligible)? 

     

    Can I make a contribution to an IRA after age 70½? 

     

     

     

    Find out if you can make an after-tax (non-deductible) contribution to your Roth IRA based on your personal situation. Will the effect of modified AGI impact your ability to make a contribution to your Roth IRA? Be sure to review your personal situation with your tax advisor prior to making any tax-related decisions or investments.

          

    IRAs - Traditional, Roth, SEP, Rollovers and InheritedIs my IRA contribution deductible? Can I deduct my ira contribution? Is my Roth IRA Contribution deductible? Can I deduct the money that I put in m my Roth IRA?  


     

    How much can I contribute to IRA 2017?

    Can I contribute to a Roth IRA if I participate in a retirement plan at work?
     

    You can contribute to a Traditional or Roth IRA whether or not you (or your spouse) participate in another retirement plan through your employer or business. However, it is important to note that:

    • Traditional IRAs:You may not be able to deduct all of your traditional IRA contributions if you or your spouse participate in another retirement plan at work. View Deductibility Limits for 2017 and for 2018Traditional IRAs.
    • Roth IRAs:You may not be able to make a Roth IRA contribution or your contribution may be limited if you make too much money. Please review the chart below to see if you are eligible to make a Roth IRA contribution. Please remember that Roth IRA contributions are NOT tax-deductible.

     


     

     

    Can I contribute to both a Roth IRA and a Traditional IRA in the same year?

     

    Yes, if eligible, you can contribute to both a Traditional and Roth IRAin the same tax year. However, it is important to note thatyour total contributions to all of your traditional and Roth IRAs (combined for the given tax year) cannot be more than you are eligible for under the given year's IRA Contribution Limits. You cannot double down and put the maximum in each.

    Think of it like this: if you are under 50* and you are fully eligible to make the maximum contribution for the year ($5,500 in 2017 & 2018), You can put a total of the maximum away ($5,500 in 2017 and another $5,500 in 2018) in either a Roth, a Traditional IRA or in any combination of the two as long as you do not exceed the annual contribution limit.

     

       

     

    For example,

    You could split it 50/50 and put $2,750 in each or you could put $500 in your Roth IRA and $5,000 in your Traditional IRA.

    You can split it up anyway that you would like - just keep in mind that it may not make sense to have an IRA with a super low balance in it because you may not be able to do much with it (as far as diversifying goes) and you may incur account fees (at most firms) that could eat into your long term-saving goals. 

     

       

     

    The amount that you put in the Traditional IRA will be tax-deductible now and the amount that you put in the Roth will receive tax benefits when you take the money out (unless there are changes to the tax laws or you take an unqualified distribution - which, of course, we do not recommend).  

    *If you are 50 or better, you get to add even more money thanks to your Catch-up contributions!

     


    IRAs - Traditional, Roth, SEP, Rollovers and Inherited

     

    Can I contribute to a Roth IRA?  

    Although Roth IRA CONTRIBUTIONS ARE NOT TAX-DEDUCTIBLE, you must be eligible to make a contribution. Use the table below to see if you may be eligible to contribute to a Roth IRA. (This table shows whether your contribution to a Roth IRA is affected by the amount of your modified AGI as computed for Roth IRA purpose. Source: irs.gov) Please be sure to consult with your tax and/or legal advisor prior to making IRA contributions.

     

    Will your 2017 contribution to a Roth IRA be affected by the amount of your modified AGI?

     

    If your filing status is:

    And your modified AGI is:

    Then you can contribute:

    married filing jointly or qualifying widow(er)

    < $186,000

    up to the limit

    > $186,000 but < $196,000

    a reduced amount

    > $196,000

    zero

    married filing separately and you lived with your spouse at any time during the year

    < $10,000

    a reduced amount

    > $10,000

    zero

    single, head of household, or married filing separately and you did not live with your spouse at any time during the year

    < $118,000

    up to the limit

    > $118,000 but < $133,000

    a reduced amount

    > $133,000

    zero

     

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited


     

    How to figure the amount of your reducedRoth IRA contribution:

    According to the IRS:

     

    Amount of your reduced Roth IRA contribution 

    If the amount you can contribute must be reduced, figure your reduced contribution limit as follows.

    1. Start with your modified AGI.
    2. Subtract from the amount in (1):
      1. $186,000 if filing a joint return or qualifying widow(er),
      2. $-0- if married filing a separate return, and you lived with your spouse at any time during the year, or
      3. $118,000 for all other individuals.
    3. Divide the result in (2) by $15,000 ($10,000 if filing a joint return, qualifying widow(er), or married filing a separate return and you lived with your spouse at any time during the year).
    4. Multiply the maximum contribution limit (before reduction by this adjustment and before reduction for any contributions to traditional IRAs) by the result in (3).
    5. Subtract the result in (4) from the maximum contribution limit before this reduction. The result is your reduced contribution limit.

     

    Please see Publication 590-A, Contributions to Individual Retirement Accounts (IRAs), for more details including a worksheet to figure your reduced contribution and be sure to speak with your tax and/or legal advisor prior to making any tax-related decisions. Please reviewPublication 590-A (2017 when available), for specific issues related to Contributions to Individual Retirement Arrangements (IRAs) for use in preparing 2017 Returns. The current link shown is for 2016 which is currently posted on irs.com as of January 2018.


     

    2017 Traditional IRA Contribution and Deduction Limits - Effect of Modified AGI on IRA Contributions

     

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited


     

    Learn about Rollover IRAs an how easy it is to Transfer your IRA account (from another firm) to an existing account Place Trade®

     

     

    What are the Roth IRA contribution limits for 2017? How much can I contribute to IRA 2017? 

    IRA Contribution Limits ~ 2016, 2017 & 2018

    You may make an eligible contribution for your 2017 Traditional or Roth IRA at any time prior to the 2017 IRS tax filing deadline which is Tuesday, April 17, 2018. (Your account must be funded or have proof of postmark by this date! For brokerage accounts - please check to see our clearing firm's required cutoff date for eligible contributions.) 

     

    The same general contribution limit applies to both Roth and traditional IRAs. However, your Roth IRA contribution might be limited based on your filing status and income.


    Please Note: For 2016, 2017 and 2018, your total contributions to all of your traditional and Roth IRAs (combined for the given tax year) cannot be more than:
            

     

    Under Age 50  

     

    Total

    Under Age 50  

     

    Over Age 50

    Additional 

     Total

    Over Age 50

    2016* **

    $5,500

    Catch-up Contribution

    $1,000

    $6,500

    2017* **

    $5,500

    Catch-up Contribution

    $1,000

    $6,500

    2018* ** $5,500 Catch-up Contribution $1,000 $6,500

     Source: irs.gov

    "Total" means your total contributions to all of your Traditional and Roth IRAs combined for the given tax year. Youcannot exceed the total amount/contribution limit regardless of how many IRAs that you have or the type/types of IRA(s) that you may have.

    *Or your taxable compensation for the year.

    ** Effective for the tax year 2002 and beyond, for participants who are eligible to make an IRA contribution and have attained the age of 50 before the end of the taxable year, the participant can make a "catch-up" contribution in addition to the normal contribution amount as shown in the table above. The catch-up contribution was $500 from 2002-2005. For the year 2006 and beyond, the catch-up contribution limit will be $1000. The maximum contribution cannot exceed 100% of actual compensation. Learn more about COLA Increases for Dollar Limitations on Benefits and Contributions from the IRS.

     

    Please note that the IRA contribution limit does not apply to:

    Deductibility limits can be confusing and tax laws are frequently changing. It is always best to review your specific situation and/or circumstances with a qualified tax advisor.

     

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited


     

    Can I make a contribution to an IRA after age 70½?

     

     

     

     
    Traditional IRA
     
    Roth IRA
     
      NO   YES  
     

     

     

    Contributions toIRAs after age 70½

     

    Can I make a contribution to my Traditional IRA after age 70½?
    No, youcannot make regular contributions to a Traditional IRA in the year you reach 70½ and older.

     

    Can I make a contribution to my Roth IRA after age 70½?
    Yes, you can still contribute to a Roth IRA and make rollover contributions to a Roth or traditional IRA regardless of your age.

     


     

     

     

     

    Open an IRA online or call us at 1-800-50-PLACE or 1-919-719-7200 to speak with an experienced retirement specialist to help you rollover your old retirement account or help you start planning for retirement today!  

     

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited

     

     

    Call us today at 1-800-50-PLACE (1-800-507-5223, 919-719-7200) for more information! 

     

     


     
       

     

      

     Get More Info About Retirement Planning with these Related Links:

     

     

     

    Retirement Planning

    Traditional IRA

    Roth IRA

    SEP IRA

    SIMPLE IRA

    Qualified Plans

    Rollover IRAs

    401(k) Rollover

    Leaving your old 401(k) behind

    Cashing Out of your 401(k)

    Switching Jobs? Know your Options

    From Ramen to Retirement

    Get Advice or Trade Online

    Can I Trade Options or on Margin in my IRA? Yes

     

     

    Should you have further questions, please contact our Client Service Center at 919-719-7200. Additionally, you may contact us via live chat or secure message (by logging in to Account Managementfor assistance.

     

    ________________________________________________________________________

    Important Notes:IRA contribution deadline 2017

    • *MA residents may make prior year 2017 IRA contributions thru Tuesday, April 17, 2018.
    • Please be sure to check with your tax and/or legal advisor prior to making any contributions, withdrawals or other changes to your retirement account. Place Trade Financial, Inc. does not offer tax or legal advice. Information provided by Place Trade is for educational purposes and should not be considered as tax or legal advice under any circumstances.
    • Please view IRS Publication 590: Publication 590-A (Contributions to Individual Retirement Arrangements (IRAs)) and IRS Publication 590-B Distributions from Individual Retirement Arrangements (IRAs) for more details and speak with your tax advisor prior to making any decisions.
    • Please be sure to look for the matching tax year when reviewing IRS Publication 590 (Publications 590-A and 590-A). We have included these links to the IRS website's pages covering Publications 590-A and 590-A for your convenience. The IRS site still shows the 2016 publications as of January 2018.
     

    What is an IRA? 

    IRA contribution deadline 2017

     

    Learn about Traditional IRAs

     

     

     

  • Retirement Place

       Retirement Planning  

     

    The following list includes links to articles and information pages related to retirement planning and retirement accounts at Place Trade.

    If you do not find what you are looking for please feel free to call us at 919-719-7200 today.

     
  • Roth IRA Contribution & Deduction Limits 2015

     

    Roth IRA Contribution & Deduction Limits ~ 2015

     

      Roth IRA Limits 2016   Traditional IRA Limits 2015   Traditional IRA Limits 2014

    2015 Traditional or Roth IRA IRS Tax Filing Deadline:

    You may make a contribution for your 2015 Traditional or Roth IRA at any time prior to the 2015 IRS tax filing deadline which is on Monday, April 18, 2016.

      April 15, 2016 falls on Emancipation Day, a legal holiday in the District of Columbia, therefore the due date for making contributions for 2015 to your IRA is April 18, 2016 ( even if you do not live in the District of Columbia). MA & ME residents may make prior year 2015 IRA contributions thru Tuesday, April 19, 2016 due to the Patriots' Day holiday!  
      Roth IRA Contribution Limits 2015 & 2016 Learn about Roth IRAs

     

     

    Can I contribute to a Roth IRA?  

    Although Roth IRA CONTRIBUTIONS ARE NOT DEDUCTIBLE, you must be eligible to make a contribution. Use the table below to see if you may be eligible to contribute to a Roth IRA. (This table shows whether your contribution to a Roth IRA is affected by the amount of your modified AGI as computed for Roth IRA purpose. Source: irs.gov)  Please be sure to consult with your tax and/or legal advisor prior to making IRA contributions.

     

     

    Will your contribution to a Roth IRA be affected by the amount of your modified AGI?

    If You Have Taxable Compensation and Your Filing Status is:

    And Your Modified AGI Is:

    Then:

    Married filing jointly or qualifying widow(er) 

    Less than $183,000

    you can contribute up to the limit.

    at least $183,000 but less than $193,000

    the amount you can contribute is reduced.

    $193,000 or more

    you cannot contribute to a Roth IRA.

    Married filing separately and you lived with your spouse at any time during the year

     zero (-0-)

    you can contribute up to the limit.

     more than zero (-0-) but less than $10,000

     the amount you can contribute is reduced.

     $10,000 or more

    you cannot contribute to a Roth IRA.

    Singlehead of household, or married filing separately and you did not live with your spouse at any time during the year

    less than $116,000

    you can contribute up to the limit.

    at least $116,000 but less than $131,000

    the amount you can contribute is reduced.

    $131,000 or more

    you cannot contribute to a Roth IRA.

     

     

     

    How to figure the amount of your reduced Roth IRA contribution:

    According to the IRS:

    If the amount you can contribute must be reduced, please use the following steps to figure your reduced contribution limits:

    1. Start with your modified AGI.
    2. Subtract from the amount in (1):Divide the result in (2) by $15,000 ($10,000 if filing a joint return, qualifying widow(er), or married filing a separate return and you lived with your spouse at any time during the year).
      1. $183,000 if filing a joint return or qualifying widow(er),
      2. $-0- if married filing a separate return, and you lived with your spouse at any time during the year, or
      3. $116,000 for all other individuals.
    3. Divide the result in (2) by $15,000 ($10,000 if filing a joint return, qualifying widow(er), or married filing a separate return and you lived with your spouse at any time during the year).
    4. Multiply the maximum contribution limit (before reduction by this adjustment and before reduction for any contributions to traditional IRAs) by the result in (3).
    5. Subtract the result in (4) from the maximum contribution limit before this reduction. The result is your reduced contribution limit.

    See Publication 590, Individual Retirement Accounts (IRAs), for a worksheet to figure your reduced contribution.

     

     

    Roth IRA Contribution Limits ~ 2015 & 2016

    You may make an eligible contribution for your 2014 Traditional or Roth IRA at any time prior to the 2014 IRS tax filing deadline which is April 15, 2015.  (Your account must be funded or have proof of postmark by this date!)

                           

     

    Under Age 50  

     

    Total

    Under Age 50  

    Over Age 50

    Additional 

     Total

    Over Age 50

    2015* **

    $5,500

    Catch-up Contribution

    $1,000

    $6,500

    2016* **

    $5,500

    Catch-up Contribution

    $1,000

    $6,500

                                                                                                                                                                                                                                                                                 Source: irs.gov

    "Total" means your total contributions to all of your traditional and Roth IRAs. You cannot exceed the total amount/contribution limit regardless of how many IRAs that you have or the type/types of IRA(s) that you may have.

    *Or your taxable compensation for the year.                                                                                                                                                           

    ** Effective for tax year 2002 and beyond, for participants who are eligible to make an IRA contribution and have attained the age of 50 before the end of the taxable year, the participant can make a "catch-up" contribution in addition to the normal contribution amount as shown in the table above. The catch-up contribution was $500 from 2002-2005. For the year 2006 and beyond, the catch-up contribution limit will be $1000. The maximum contribution cannot exceed 100% of actual compensation.  Learn more about COLA Increases for Dollar Limitations on Benefits and Contributions from the IRS.

    Please note that the IRA contribution limit does not apply to:

    Deductibility limits can be confusing and tax laws are frequently changing. It is always best to review your specific situation and/or circumstances with a qualified tax advisor.

    Open an IRA online or call us at 1-800-50-PLACE or 1-919-719-7200 to speak with an experienced retirement specialist to help you rollover your old retirement account or help you start planning for retirement today!  

    Back to the top of Traditional IRAs

    Call us today at 1-800-50-PLACE (1-800-507-5223, 919-719-7200) for more information! 


    (Please be sure to check with your tax and/or legal advisor prior to making any contributions, withdrawals or other changes to your retirement account. Place Trade Financial, Inc. does not offer tax or legal advice. Information provided by Place Trade is for educational purposes and should not be considered as tax or legal advice under any circumstances.)     

      

      

     
  • Roth IRA Contribution & Deduction Limits 2016

     

    Roth IRA Contribution & Deduction Limits ~ 2016

     

              Roth IRA Limits 2015   Traditional IRA Limits 2015   Traditional IRA Limits 2016

    2016 Traditional or Roth IRA IRS Tax Filing Deadline:

    You may make a contribution for your 2016 Traditional or Roth IRA at any time prior to the 2016 IRS tax filing deadline which is on Monday, April 17, 2017. 

    • April 15, 2017 falls on Saturday, therefore the due date for making contributions for 2016 to your IRA is Monday, April 17, 2017. 
      MA & ME residents may make prior year 2016 IRA contributions thru Tuesday, April 18, 2016 due to the Patriots' Day holiday!
    • The 2017 tax year IRA contribution and filing deadline is Monday, 04/16/2018. For residents of MA & ME: Tuesday, April 18, 2018 due to the Patriots' Day holiday.
      Roth IRA Contribution Limits 2016 & 2017   Learn about Roth IRAs

       

    Can I contribute to a Roth IRA?  

    Although Roth IRA CONTRIBUTIONS ARE NOT DEDUCTIBLE, you must be eligible to make a contribution. Use the table below to see if you may be eligible to contribute to a Roth IRA. (This table shows whether your contribution to a Roth IRA is affected by the amount of your modified AGI as computed for Roth IRA purpose. Source: irs.gov) Please be sure to consult with your tax and/or legal advisor prior to making IRA contributions.

     

    Will your 2016 contribution to a Roth IRA be affected by the amount of your modified AGI?

    If You Have Taxable Compensation and Your Filing Status is:

    And Your Modified AGI Is:

    Then:

    Married filing jointly or qualifying widow(er) 

    Less than $183,000

    you can contribute up to the limit.

    at least $184,000 but less than $194,000

    the amount you can contribute is reduced.

    $194,000 or more

    you cannot contribute to a Roth IRA.

    Married filing separately and you lived with your spouse at any time during the year

     zero (-0-)

    you can contribute up to the limit.

     more than zero (-0-) but less than $10,000

     the amount you can contribute is reduced.

     $10,000 or more

    you cannot contribute to a Roth IRA.

    Singlehead of household, or married filing separately and you did not live with your spouse at any time during the year

    less than $117,000

    you can contribute up to the limit.

    at least $117,000 but less than $132,000

    the amount you can contribute is reduced.

    $132,000 or more

    you cannot contribute to a Roth IRA.

     

     

     

    How to figure the amount of your reduced Roth IRA contribution:

    According to the IRS:

    If the amount you can contribute must be reduced, please use the following steps to figure your reduced contribution limits:

    1. Start with your modified AGI.
    2. Subtract from the amount in (1):Divide the result in (2) by $15,000 ($10,000 if filing a joint return, qualifying widow(er), or married filing a separate return and you lived with your spouse at any time during the year).
      1. $184,000 if filing a joint return or qualifying widow(er),
      2. $-0- if married filing a separate return, and you lived with your spouse at any time during the year, or
      3. $117,000 for all other individuals.
    3. Divide the result in (2) by $15,000 ($10,000 if filing a joint return, qualifying widow(er), or married filing a separate return and you lived with your spouse at any time during the year).
    4. Multiply the maximum contribution limit (before reduction by this adjustment and before reduction for any contributions to traditional IRAs) by the result in (3).
    5. Subtract the result in (4) from the maximum contribution limit before this reduction. The result is your reduced contribution limit.

    See Publication 590, Individual Retirement Accounts (IRAs), for a worksheet to figure your reduced contribution and speak with your tax and/or legal advisor prior to making any tax related decisions. Please review Publication 590-A (2016 when available), for specific issues related to Contributions to Individual Retirement Arrangements (IRAs) for use in preparing 2016  Returns. The current link shown is for 2015.

     

     

     

    Roth IRA Contribution Limits ~ 2016 & 2017

    You may make an eligible contribution for your 2016 Traditional or Roth IRA at any time prior to the 2016 IRS tax filing deadline which is April 17, 2017. (Your account must be funded or have proof of postmark by this date!)

                           

     

    Under Age 50  

     

    Total

    Under Age 50  

    Over Age 50

    Additional 

     Total

    Over Age 50

    2016* **

    $5,500

    Catch-up Contribution

    $1,000

    $6,500

    2017* **

    $5,500

    Catch-up Contribution

    $1,000

    $6,500

                                                                                                                                                                                                                                                                                 Source: irs.gov

    "Total" means your total contributions to all of your traditional and Roth IRAs. You cannot exceed the total amount/contribution limit regardless of how many IRAs that you have or the type/types of IRA(s) that you may have.

    *Or your taxable compensation for the year.                                                                                                                                                           

    ** Effective for tax year 2002 and beyond, for participants who are eligible to make an IRA contribution and have attained the age of 50 before the end of the taxable year, the participant can make a "catch-up" contribution in addition to the normal contribution amount as shown in the table above. The catch-up contribution was $500 from 2002-2005. For the year 2006 and beyond, the catch-up contribution limit will be $1000. The maximum contribution cannot exceed 100% of actual compensation.  Learn more about COLA Increases for Dollar Limitations on Benefits and Contributions from the IRS.

    Please note that the IRA contribution limit does not apply to:

    Deductibility limits can be confusing and tax laws are frequently changing. It is always best to review your specific situation and/or circumstances with a qualified tax advisor.

    Open an IRA online or call us at 1-800-50-PLACE or 1-919-719-7200 to speak with an experienced retirement specialist to help you rollover your old retirement account or help you start planning for retirement today!  

    Back to the top of Traditional IRAs

    Call us today at 1-800-50-PLACE (1-800-507-5223, 919-719-7200) for more information! 


    (Please be sure to check with your tax and/or legal advisor prior to making any contributions, withdrawals or other changes to your retirement account. Place Trade Financial, Inc. does not offer tax or legal advice. Information provided by Place Trade is for educational purposes and should not be considered as tax or legal advice under any circumstances.)     

      

     
  • Roth IRAs

     

     Retirement Planning > Individual Investors > Roth IRAsWhat is the deadline for contributing to an IRA or Roth IRA? What is the deadline for contributing to an IRA for 2020? How much can I contribute to my IRA for 2020 or 2019? What are the IRA contribution limits for 2020 and 2019?

     

    What is a Roth IRA?


    Traditional IRAs

    Roth IRAs

    Rollover IRAs IRA FAQs

    Funding Reference

     

    Roth Contribution Limits 2020

     

    Roth Contribution Limits 2019

    Open a Roth IRA Account

     

    Get Important Information Regarding your IRA Brokerage Account


     

    What is a Roth IRA? How can a Roth IRA help me save for retirement? How can I get Tax FREE capital gains?

    Your Place Trade Roth IRA helps keep your retirement plan on track and allows you to get tax free income during retirement! Trade stocks, bonds, mutual funds, options, unsettled funds & more!

    Learn the facts, benefits and drawbacks of investing in a Roth IRA. This page offers educational information that you may use in addition to consulting with your tax advisor to see if a Roth IRA may be right for you. 

     

    Quick Facts about Roth IRAs:

     

     

    A Roth IRA is an IRA that is actually subject to many of the same rules that apply to a Traditional IRA however there are a few major exceptions that make the Roth IRA particularly attractive for individuals who do not need a tax deduction at the present time and have five or more years before they need to take withdrawals.

    The major difference between a Roth IRA and a Traditional IRA include the following exceptions:

    • You cannot deduct contributions to a Roth IRA.
    • If you satisfy the requirements, qualified distributions are tax-free.
    • You can make contributions to your Roth IRA after you reach age 70 ½.
    • You can leave amounts in your Roth IRA as long as you live.
    • The account or annuity must be designated as a Roth IRA when it is set up.
    • Roth IRA contribution limits are identical to those for the traditional IRA. However, unlike traditional IRAs, the ability of a participant to contribute to a Roth IRA may be limited by his or her adjusted gross income.

    Find out how much you may be eligible to contribute to your Roth IRA for 2014 & 2015 by viewing the chart below.

      

     
     

     

             
     

    3 Quick Steps to Opening Your Roth IRA

     

     How to Fund your Roth IRA Account*

     
     

    1. Open an Account Online

    2. Fund Your Account 

    3. Start Investing (or call an Experienced Advisor)

     

    1. Make a contribution

    2. Transfer or Rollover an account

    3. Traditional IRA to Roth IRA Conversion

     
     

     

     

     

     

      *You can even do this within the application via the "Funding" section!

    Follow the links above to get more information on Roth IRAs and other retirement accounts available at Place Trade as well as information on rollovers and guidance that is specific to your IRA account. Please call us at 800-50-PLACE or 91719-7200 for help opening your Roth (or Traditional) IRA today! 

    Prior year contributions must be very clearly marked and you should allow several (5-10) days for processing. If you are getting down to the wire you may want to literally wire funds in so that you do not miss the April 15th IRS deadline. Call us for more information or for assistance.

     

     

     

    Top Roth IRA

    Jump to a section by clicking one of the links below: 

    Traditional IRA Basics

    Get more info at IRS.gov

    Why participate in a Roth IRA?

    How to get tax free capital gains

    Roth IRA Contribution Limits

    Roth IRA Deductibility Limits

    Roth IRA Non-Deductible Contributions

    Important Things to Remember about Roth IRAs

    Roth Rollover and Conversion Contributions

    Roth-to-Roth IRA Rollovers

    Conversion from a Traditional IRA to a Roth IRA

    Check out the Retirement Plan Rollover Chart

    Re-characterization of a Roth IRA back to a Traditional IRA

    Qualified Roth IRA Distributions

    Non-qualified Roth IRA Distributions

    Withholding

    Required Minimum Distributions (RMD) at Age 70 1/2

    IRS Reporting Requirements for Roth IRAs

    IRA Non-Deductible Contributions

    Important Things to Remember about Contribution Limits

    Required Minimum Distributions (RMD) at Age 70 1/2

    IRS Reporting Requirements for Roth IRAs

     

      

    Why participate in a Roth IRA?

    • Earnings accumulated tax-free
    • Qualified distributions are tax and penalty-free
    • Contributions can always be recovered tax and penalty-free
    • If you satisfy the requirements, qualified distributions are tax-free
    • You can make contributions to your Roth IRA after you reach age 70 ½
    • You can leave amounts in your Roth IRA as long as you live

    Note: Due to changing laws, it is always best to review your individual circumstances with a qualified Tax Advisor. Place Trade Financial does not offer tax advice.


    Top Roth IRA

    How to get FREE Capital Gains: Invest in a Roth IRA!

     

    How can I get Tax FREE Capital Gains on my investments? 

    • Simply invest your money in your own Roth IRA and pay no taxes on your gains! Yes, this is true. Earnings on your investments (a.k.a. profits/gains on your trades) accumulate tax-free in your Roth IRA. 
       

    Note: Due to changing laws, it is always best to review your individual circumstances with a qualified Tax Advisor. Place Trade Financial does not offer tax advice.


    Top Roth IRA

    Traditional IRA & Roth IRA Contribution Limits 

    What are the Roth IRA contribution limits this year? How much can I contribute to IRA 2018? 

    IRA Contribution Limits ~ 2016, 2017 & 2018

    You may make an eligible contribution for your 2019 Traditional or Roth IRA at any time prior to the 2019 IRS tax filing deadline which is Monday, July 15, 2020. (Your account must be funded or have proof of postmark by this date! For brokerage accounts - please check to see our clearing firm's required cutoff date for eligible contributions.) 

    The same general contribution limit applies to both Roth and traditional IRAs. However, your Roth IRA contribution might be limited based on your filing status and income.


    Please Note: For 2019 and 2020, your total contributions to all of your traditional and Roth IRAs (combined for the given tax year) cannot be more than:
            

     

    Under Age 50  

     

    Total

    Under Age 50  

     

    Over Age 50

    Additional 

     Total

    Over Age 50

    2019* **

    $6,000

    Catch-up Contribution

    $1,000

    $7,000

    2020* ** $6,000 Catch-up Contribution $1,000 $7,000

     Source: irs.gov

    "Total" means your total contributions to all of your Traditional and Roth IRAs combined for the given tax year. Youcannot exceed the total amount/contribution limit regardless of how many IRAs you have or the type/types of IRA(s) that you may have.

    *Or your taxable compensation for the year.

    ** Effective for the tax year 2002 and beyond, for participants who are eligible to make an IRA contribution and have attained the age of 50 before the end of the taxable year, the participant can make a "catch-up" contribution in addition to the normal contribution amount as shown in the table above. The catch-up contribution was $500 from 2002-2005. For the year 2006 and beyond, the catch-up contribution limit will be $1000. The maximum contribution cannot exceed 100% of actual compensation. Learn more about COLA Increases for Dollar Limitations on Benefits and Contributions from the IRS.

     

    Please note that the IRA contribution limit does not apply to:

    Deductibility limits can be confusing and tax laws are frequently changing. It is always best to review your specific situation and/or circumstances with a qualified tax advisor.

     

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited


     

     Top Roth IRA

     


    Open an IRA online or call us at 1-800-50-PLACE or 1-919-719-7200 to speak with an experienced retirement specialist to help you roll over your old retirement account or help you start planning for retirement today!  

     


     
     

    Back to the top: Roth IRAs

     

    Important things to Remember about your Roth IRA

    • Who can contribute? Any individual with income, subject to income limitations.

    • Contributions are aggregated with Traditional IRA Contributions. The contributions to a Roth IRA are aggregated with contributions to a traditional IRA for the purpose of the annual maximum contribution limit. Essentially, an individual may contribute to both a traditional and a Roth IRA for a given year, however, the total amount of contributions to both accounts may not exceed $6,000 for the 2019 tax year or $6,000 for the 2020 tax year. (Note: $7,000 for individuals over age 50).

     

    • Deductibility of Roth IRA Contributions: Contributions to a Roth IRA are not deductible. All contributions to a Roth IRA can be recovered tax and penalty-free.

    • Contributions are permitted after age 70 ½.

    • Distributions from a Roth IRA are tax and penalty-free after the five year holding period has passed and the participant has either reached age 59 ½, has died or has used the distribution for a qualified first time home purchase (limit to $10,000 over a lifetime). Other exceptions may also apply. Visit www.irs.gov for more details.

    • Earnings on contributions will be subject to a 10% penalty by the IRS if withdrawn prior to the mandatory five-year holding period and prior to age 59 ½.

    • Contributions may be made (and account may be established) no later than the due date for filing income tax returns for the year for which the contribution is being made, not including extension, generally April 15th. In other words, contributions for a prior year can be made up to April 15th of the current year unless the IRS grants an extension.

     

     Top Roth IRA

    Roth Rollover and Conversion Contributions

     

    Qualified rollover contributions to a Roth IRA include Roth-to-Roth IRA rollovers and conversion of traditional IRA assets to a Roth IRA. Rollovers from an employer-qualified plan to a Roth IRA are not permitted.

     

    Roth-to-Roth IRA Rollovers

    Rollovers of assets from one Roth IRA to another Roth IRA follow the rules for traditional IRA rollovers. For assets to be eligible for rollover they must have come from an account that has had no rollover contributions or distributions within the prior 12 months.Roth-to-Roth rollovers are reported to the IRS.

     

     

    Conversion from a Traditional IRA to Roth IRA

    Any conversion of assets from a traditional IRA to a Roth IRA after 1998 fully includes in the gross income of the IRA participant in the year in which the distribution from the IRA is made. The rules for recovery of nondeductible contributions from the traditional IRA will apply. The 10% additional tax that applies to premature distributions will not apply to distributions that are converted to a Roth IRA.

    Please note that as of 2010, there are no income limits on IRA to Roth IRA conversions.

    A Traditional IRA participant is prohibited from converting a required minimum distribution into a Roth IRA.

    Distribution of assets from the traditional IRA will be reported on IRS Form 1099 R, and the conversion contribution to the Roth IRA will be reported on IRS Form 5498.

     

     Roth IRA Facts

    Re-characterization of a Roth IRA back to a Traditional IRA

    A participant may re-characterize Roth IRA contributions in one of three ways:

    • By transferring a regular contribution made to a Roth IRA plus earnings to a traditional IRA. This may occur when a participant learns that she is ineligible to make a Roth IRA.

    • By transferring a regular contribution made to a traditional IRA plus earnings to a Roth IRA. This may occur when a participant learns that he will be ineligible to take a deduction for his traditional IRA contribution.

    • By reversing a contribution plus earnings made from a traditional IRA to a Roth IRA. This may occur when the IRA participant's adjusted gross income is too high to allow the Roth conversions.

    Regardless of the type of re-characterization, both the distribution and the contribution are reported to the IRS.

     

     Top Roth IRA Facts

    Qualified Roth IRA Distributions (Withdrawals)

     

    Qualified Distributions from a Roth IRA may be recovered tax and penalty-free if the distributions satisfy two conditions:

    1.  The distribution is made from the Roth IRA after a period of five years has elapsed since the first day of the year in which the first contribution was made to the Roth IRA, and;

    2.  One of the following conditions is satisfied:

     i.  The participant had attained the age of 59½

    ii.  The distribution is made to the participant's beneficiary after the participant's death

    iii.  The participant is disabled

    iv.  The distribution is used for qualified first time home purchase expenses

    v.  The distribution is used for qualified education, medical or unemployment expenses. Visit http://www.irs.gov for more details.

    If the Roth IRA distribution meets both of the conditions above, the distribution is not included in the gross income of the individual.

     Top Roth IRA Facts

    Non-qualified Roth IRA Distributions (Withdrawals)

     

    A distribution from a Roth IRA that does not meet the requirements of a qualified distribution, and is neither rolled over to another Roth IRA nor re-characterized to a traditional IRA, is considered a non-qualified distribution.

    • A non-qualified distribution is taxable only when all of the aggregate contributions in the Roth IRA have been distributed. In other words, only the earnings in a Roth IRA are taxable when a distribution is non-qualified.

    • The IRS has implemented ordering rules that define the order in which distributions are made from a Roth IRA. Distributions are made first from regular Roth IRA contributions, next from conversion contributions, and finally from earnings.

    • The taxable portion of the non-qualified distribution may be subject to the 10% additional tax on premature distributions if it does not qualify for any of the exceptions to the premature distribution penalty.

    • The amount of a non-qualified distribution that comes from conversion contributions may be subject to an additional 10% penalty, if the distribution is made before 5 years have elapsed, since the first day of the year in which the conversion was made.

     

     

    Withholding

     
    Top Roth IRA Facts

    Distributions from a Roth IRA are subject to federal income tax withholding at the rate of 10% unless the participant elects to waive withholding.

     

    Required Distributions at Age 70 ½

    Roth IRA accounts are not subject to the required minimum distribution regulations.

    IRS Reporting Requirements for Roth IRAs

    Tax reporting requirements for a Roth IRA are identical to those for a Traditional IRA.

    Distributions are reported to the IRS on Form 1099 R.

    Learn about how tax reporting for your account by visit: Tax Information and Reporting

    For more information please visit www.irs.gov

    Deductible limits can be confusing and tax laws are frequently changing. It is always best to review your specific situation and/or circumstances with a qualified tax adviser.

    Back to the top: Roth IRAs

    Roth IRA Non-Deductible Contributions

    You cannot make nondeductible contributions to your Roth IRA.


    Top Roth IRA Facts

    Important Things to Remember:

    Contribution Limits: There is no minimum contribution limit per the IRS. However, most brokerage firms, mutual fund and investment management companies do require account minimums so please be sure to inquire prior to investing.

    Talk with an IRA Rollover Specialist Today Call 1-800-50-PLACE

     

     

    Check out the Retirement Plan Rollover Chart

    Follow the link above to review all of the various types of retirement plans to see where (what other types of retirement plans) your existing plan may be rolled into according to IRS guidelines.  

    Back to the top: Roth IRAs

     

    Details about Roth IRAs are contained in Publication 590-A, Contributions to Individual Retirement Arrangements (IRAs) and Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs) and include:

    • Setting up your Roth IRA (per IRS info - Not Place Trade specific info);
    • Contributions to your Roth IRA; and
    • Distributions from your Roth IRA.
    • Differences Between Roth IRAs and Designated Roth Accounts
    • Individual Retirement Arrangements (IRAs)


    Call us today at 1-800-50-PLACE (1-800-507-5223, 919-719-7200) to get started!
     


    (Please be sure to check with your tax and/or legal advisor prior to making any contributions, withdrawals or other changes to your retirement account. Place Trade Financial, Inc. does not offer tax or legal advice. Information provided by Place Trade is for educational purposes and should not be considered as tax or legal advice under any circumstances.)    

         
     
         
     

     Retirement Planning 

     
     

    Traditional IRA

     Roth IRA 

     
     

    SEP IRA

    SIMPLE IRA

     
     

     401(k) Rollover 

    Rollover IRA

     
     

     Switching Jobs? Know your Options 

    Leaving your old 401(k) behind

     
     

    Cashing Out of your 401(k)

     From Ramen to Retirement

     
     

    Qualified Plans

    Get Advice or Trade Online

     
     

    Can I Trade Options in my IRA?

     Can I Trade on Margin in my IRA?

     
     

    FAQs: IRA Account Configuration

    Easily Open an IRA online now!

     
         
     
         

    IRS Circular 230 Notice: These statements are provided for information purposes only, are not intended to constitute tax advice which may be relied upon to avoid penalties under any federal, state, local or other tax statutes or regulations, and do not resolve any tax issues in your favor.

     


     Learn about IRAs, Traditional IRAs, Roth IRAs, Minimize taxes with qualified contributions to your retirement account.  Make "Catch-up contributions" if you are over 50.  Learn about income limits/deduction limits for Single, Head of household, Qualified widow or widower, married filing jointly, married filing separately, spouse not covered by plan at work, spouse, no plan at work, plan at work, lived with spouse, agi, adjusted gross income, ira deduction, full deduction, partial deductions and so much more!
    Top Roth IRA Facts

     

    Call us today at 1-800-50-PLACE (1-800-507-5223, 919-719-7200) for more information! 

     

     

     

     
       

     

      

     Get More Info About Retirement Planning with these Related Links:

     

     

     

    Retirement Planning

    Traditional IRA

    Roth IRA

    SEP IRA

    SIMPLE IRA

    Qualified Plans

    Rollover IRAs

    401(k) Rollover

    Leaving your old 401(k) behind

    Cashing Out of your 401(k)

    Switching Jobs? Know your Options

    From Ramen to Retirement

    Get Advice or Trade Online

    Can I Trade Options or on Margin in my IRA? Yes

     

     

    Should you have further questions, please contact our Client Service Center at 919-719-7200. Additionally, you may contact us via live chat or secure message (by logging in to Account Managementfor assistance.

     

    ________________________________________________________________________

    Important Notes:IRA contribution deadline 2018

    • *MA residents may make prior year 2018 IRA contributions thru Tuesday, April 16, 2019.
    • Please be sure to check with your tax and/or legal advisor prior to making any contributions, withdrawals or other changes to your retirement account. Place Trade Financial, Inc. does not offer tax or legal advice. Information provided by Place Trade is for educational purposes and should not be considered as tax or legal advice under any circumstances.
    • Please view IRS Publication 590: Publication 590-A (Contributions to Individual Retirement Arrangements (IRAs)) and IRS Publication 590-B Distributions from Individual Retirement Arrangements (IRAs) for more details and speak with your tax advisor prior to making any decisions.
    • Please be sure to look for the matching tax year when reviewing IRS Publication 590 (Publications 590-A and 590-A). We have included these links to the IRS website's pages covering Publications 590-A and 590-A for your convenience. The IRS site still shows the 2016 publications as of January 2018.
     

    What is an IRA? 

    IRA contribution deadline 2018

     

    Learn about Traditional IRAs

     

     

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Learn more about retirement planning by visiting some of the links below:

Roth IRA

SEP IRA

SIMPLE IRA

Traditional IRA

Qualified Plans

Rollover IRAs

Find out how Place Trade can help you get the most out of your college planning by visiting some of the links below:


Coverdell ESA

529 College Savings Plans

UGMA/UTMA Accounts