[分享]IRA 概况

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[分享]IRA 概况

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2007-03-10 12:49:00

For Tax Years 2006 and 2007

Traditional IRA

Roth IRA

Individual: $4,000* for each of the tax years 2006 and 2007.
Married filing jointly: $8,000 (up to $4,000 each)** for each of the tax years 2006 and 2007.

Eligibility

Anyone under age 70 1/2 with earned income.

Anyone with earned income who has modified Adjusted Gross Income (AGI) below $110,000 for tax year 2006 and $114,000 for tax year 2007 (single) or $160,000 for tax year 2006 and $166,000 for tax year 2007 (married filing jointly).

Spouses with little or no earned income who file jointly are eligible to open a spousal IRA.

May be tax-deductible, based on retirement plan coverage, adjusted gross income and filing status.

Not tax-deductible.

Earnings are tax-deferred.

Distributions must start by age 70 1/2.

There is no required age for starting distributions while owner is alive.

After age 59 1/2, withdrawals may be subject to federal (and state) income taxes. Withdrawals after age 59 1/2 are not subject to the federal tax penalty for premature distributions.

Before age 59 1/2, withdrawals may be subject to federal and state income taxes plus a 10% federal tax penalty for premature distributions. The tax penalty may not apply if your withdrawals meet certain criteria. See the Qualified Early Withdrawals in the section below.

Contributions may be withdrawn at any time without penalty.

Qualified withdrawals are free from federal income tax.

Premature withdrawals may be subject federal and state taxes plus a 10% federal tax penalty. The tax penalty may not apply if you met certain criteria. See the Qualified Early Withdrawals in the section below.

Before age 59 1/2, these are some of the circumstances in which you may make withdrawals without the 10% federal tax penalty:

•	First-time home purchase ($10,000 lifetime limit).

•	Your Disability.

•	Medical expenses that exceed 7.5% of your adjusted gross income.

•	Payment of Health Insurance Premiums for certain unemployed individuals.

•	Qualified higher education expenses.

Before age 59 1/2, you may withdraw earnings free of federal tax penalty for premature withdrawals (even if this withdrawal is not free of federal income tax) if one of the following applies:

•	First-time home purchase ($10,000 lifetime limit).

•	Your Disability.

•	Medical expenses that exceed 7.5% of your adjusted gross income.

•	Payment of Health Insurance Premiums for certain unemployed individuals.

•	Qualified higher education expenses.

*	If you are age 50 or older, you can make an additional "catch up" contribution of $1,000 for each of tax years 2006 and 2007 ($4,000 + $1,000 = $5,000).
**	If both you and your spouse are 50 or older, you can each make an additional "catch up" contribution of $1,000 for each of tax years 2006 and 2007.

[此贴子已经被作者于2007-3-10 12:59:59编辑过]

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威望3

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2007-03-10 12:52:00

What if I need to withdraw money from a traditional IRA before I retire? If you're under age of 59-and-a-half, withdrawals may be subject to federal and state income taxes plus a 10% federal tax penalty. However, you can make withdrawals without paying a tax penalty in any one of these circumstances: You use the money for a first-time home purchase. (There's a $10,000 lifetime limit.) You become disabled. You face medical expenses that exceed 7.5% of your adjusted gross income. You are in the category of unemployed individuals permitted to use the funds to pay for health insurance premiums. You use the money for certain qualified education expenses. You use the money for a first-time home purchase. (There's a $10,000 lifetime limit.) You become disabled. You face medical expenses that exceed 7.5% of your adjusted gross income. You are in the category of unemployed individuals permitted to use the funds to pay for health insurance premiums. You use the money for certain qualified education expenses.

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What if I need to withdraw money from a Roth IRA before I retire? If you're under age of 59-and-a-half, you can withdraw earnings without having to pay a 10% federal tax penalty (though you may have to pay federal income tax) in any one of these circumstances: You use the money for a first-time home purchase. (There's a $10,000 lifetime limit.) You become disabled. You face medical expenses that exceed 7.5% of your adjusted gross income. You are in the category of unemployed individuals permitted to use the funds to pay for health insurance premiums. You use the money for certain qualified education expenses. You use the money for a first-time home purchase. (There's a $10,000 lifetime limit.) You become disabled. You face medical expenses that exceed 7.5% of your adjusted gross income. You are in the category of unemployed individuals permitted to use the funds to pay for health insurance premiums. You use the money for certain qualified education expenses.