Statements (48)
| Predicate | Object |
|---|---|
| gptkbp:instance_of |
gptkb:urban_area
|
| gptkbp:account_holder_age_limit |
No age limit for contributions
|
| gptkbp:beneficiary |
Can be passed to heirs tax-free
|
| gptkbp:benefits |
Tax-free growth
Tax-free withdrawals in retirement |
| gptkbp:contribution |
Earned income
|
| gptkbp:conversion_options |
Can convert traditional IRA to Roth IRA
|
| gptkbp:conversion_tax_implications |
Taxes owed on converted amount
|
| gptkbp:created_by |
gptkb:Taxpayer_Relief_Act_of_1997
|
| gptkbp:eligible_investments |
gptkb:cryptocurrency
Real estate Precious metals |
| gptkbp:financials |
Used for estate planning
Used for tax diversification Can be opened at banks Can be opened at brokerage firms Can be opened at credit unions Important for retirement savings Understanding contribution limits Understanding tax implications Understanding withdrawal rules Used for retirement planning |
| gptkbp:funding |
$6,000
$7,000 if age 50 or older |
| https://www.w3.org/2000/01/rdf-schema#label |
Roth IRAs
|
| gptkbp:income_eligibility |
Phase-out for high earners
|
| gptkbp:investment |
gptkb:Bonds
Stocks Mutual funds ETFs |
| gptkbp:investment_strategy |
Diversification
Long-term growth |
| gptkbp:named_after |
gptkb:Senator_William_Roth
|
| gptkbp:penalty_for_early_withdrawal |
10% penalty on earnings if withdrawn before age 59½
|
| gptkbp:required_minimum_distributions |
Not required during the account holder's lifetime
|
| gptkbp:rollover_options |
Can be rolled over from traditional IRAs
|
| gptkbp:state_tax_treatment |
Varies by state
|
| gptkbp:submission_deadline |
Tax filing deadline
|
| gptkbp:type |
Retirement savings account
|
| gptkbp:type_of |
Tax-free withdrawals
|
| gptkbp:withdrawal_exceptions |
Disability
First-time home purchase Qualified education expenses Death of account holder |
| gptkbp:withdrawal_rules |
Earnings can be withdrawn tax-free after 5 years
Contributions can be withdrawn anytime tax-free |
| gptkbp:bfsParent |
gptkb:Sun_America
|
| gptkbp:bfsLayer |
5
|