60+ year old thread.

Good morning Rob.

Shameless post to up the ole post count.

 

Morning Tom.
Shameless reply for same purpose.

 

Didn't page back first check...


Oh, I think my Sig quotes need updating.

 

Welcome Burton...jump in anytime and post a thread or 2 or how ever many

 

made my morning

 

Picture didn't come through on the previous post.

 

Here is one for you guys that prefer one their own age

 

Tina.

Loved me some Ginger back in the day!

 

Times change and so does the looks

 

Tom ,one for you,A WW2 Pic. "Equipment carried by a parachutist radio operator",

 

I hope the EMT's got to her in time! Was there much damage done to the pole she ran into?

 

This may be old but it is still great.

Taking out the trash- Gulf War Style

Message to the young punks "Don't mess with us Vets".

http://www.youtube.com/watch?v=8XKxcasGpuI

 

Now that picture makes me drool!!!!

 

Evening all:
Sure glad I didn't drink a lot of coconut juice!
Looks like I'm up the creek without a paddle!
Did some homework today, and then got a return call from the SS office.
I found an article that had a lot of information about a rollover from a traditional IRA to a Roth IRA. It said that "IT IS CONSIDERED INCOME" and will be used to establish the Medicare premium. The SS office also confirmed what was spelled out in black and white in the article.
What a bunch of BS! (if I read the article right, they made it as income for SS/Medicare purpose in 2010. Before that, it would have been excluded. That's probably what the origional info. I was given, about filing an appeal, was based on.)
It looks like I don't have to contact the Senators office; can't win this one!
So, for anyone that would consider doing this, WATCH OUT if you are near age 65. It looks like they came up with a back door approach that enables them to charge a higher Medicare premium.

BOOMERS=$$$$$$>>>>. Maby they are trying to get back some of the BILLIONS that they are paying out in Medicare/Medicaid fraud every year!

 

Hi Paul, you would think with all the makeup and hair products on the market she could've done a better job...just posted this pic as a before & after

Hi Carl, I just got the check from my 401 from work for roll over. I was thinking about putting it in as a Roth but after reading what happened to you , I'll think I'll keep it in a traditional. Thanks for posting ths. I'm sure it will help others on here. The government gets your money one way or another and the tax laws are so screwed up nobody knows them all

 

Carl:
The Tax code is pretty clear on rolling an IRA into a Roth IRA. You will have to pay tax on all of the money was placed into the IRA tax free. There are possibilities of placing money into an IRA that was taxed going into the IRA and you would have paid that cost the after the money was placed into the IRA. If you have this situation that money would be placed into the Roth IRA tax free. You will need documentation for that amount. Only the initial money of this type is eligible and not the growth of the money in the account.

Sounds more complicated than it is. I have had this happen to me. That is when I opened up a Roth IRA and let my IRA contributions ride.

If there is a bright side, I doubt it in your specific case because of any IRS penalties, your tax rate should have been lower since your income was probably less.

The IRS is like a bookie, they never lose. Sorry for your loss.

 

Boomers,,Note on taxes ,,WE ARE FUCKED. that is all,,,Jim

 

Ken:
I also looked at this when I went to roll over my 401K and decided to put it into my IRA as well. Too bad the window of time you have to do this in not 2 years instead of 30 days once you withdraw the money.

In hindsight I could have left the money in my former employers 401K till my income dropped but I did not trust the investment firm to manage my money as well as or better than my broker.