Question about ROTH limits

Discussion in 'Professional Trading' started by TraderTactics, Jan 26, 2010.

  1. I was just wondering what if I never realized that I was over the income limit? What would happen if I try to take out the money? They don't usually ask about your income when you put money into a ROTH IRA.
  2. uptickk


    Similar question. I have been contributing to a roth ira for the 2010 tax year. It is looking like if my trading gains continue that I will surpass the roth ira income limits. If my income ends up being over the limit what happens if money has already been deposited? Can I withdrawal it as to not trigger taxes or penalties?

    Any help would be greatly appreciated
  3. Bob111


    i'm pretty sure both of you will find the answers on irs website-

    i have different question...if one generating decent six digits profits from trading-is there any way to contribute relatively large sum of money to any type of IRA? like 10-50K? every year? those limits like 2-3K a year are way to small..
  4. what about a mini-401(k)?