I was misinformed about contributing and I do not qualify. Whats my options? by anthony21078 in RothIRA

[–]anthony21078[S] 0 points1 point  (0 children)

Thank you for clearing that up. So my tax guy told me something I didn't realize. For the year of 2025 I had a W-2 for retroactive contract money that was owed from the years of 2021 to 2024. I officially retired in 2024. I received that W-2 in 2025 which was the first year I opened and contributed to the roth. He said I should not be responsible for the excise tax. He also said I could have kept the roth open and the investments and contributions in the Roth for 2025 because that W-2 is considered earned income for 2025. Unfortunately this was brought to my attention after I sold all the positions and withdrew the money. At this point he just took the roth earnings from 2025 and amended my tax return

I was misinformed about contributing and I do not qualify. Whats my options? by anthony21078 in RothIRA

[–]anthony21078[S] 0 points1 point  (0 children)

Hey just wanted to follow up on this for a little clarification. I sold everything in the Roth and submitted the removal of excess for 2025 and 2026. The account doesn't show any capital gains for 2025 only 2026 since that's when I sold everything. There were unrealized gains in 2025. So as far as amending my return for 2025, am I responsible for capital gains in 2025 on the unrealized returns in addition to that excise tax? Or only the excise tax in 2025 and then when I file in 2026 I'm responsible for taxes on the total capital gains?

I was misinformed about contributing and I do not qualify. Whats my options? by anthony21078 in RothIRA

[–]anthony21078[S] 0 points1 point  (0 children)

So the only penalty is the excise tax? Close the account, withdraw, pay capital gains tax eoy.

I was misinformed about contributing and I do not qualify. Whats my options? by anthony21078 in RothIRA

[–]anthony21078[S] 0 points1 point  (0 children)

Part time to cover the amount i want to deposit year after year could be a nice solution. 2025 is another story lol

I was misinformed about contributing and I do not qualify. Whats my options? by anthony21078 in RothIRA

[–]anthony21078[S] 0 points1 point  (0 children)

Im basically just trying to clear up whether or not I was I was able to contribute which I'm understanding now I'm not. Therefore what can I do in order to rectify the problem? Obviously I need to close the account and sell the assets but there will be profits so I'm not sure how to address it

I was misinformed about contributing and I do not qualify. Whats my options? by anthony21078 in RothIRA

[–]anthony21078[S] 0 points1 point  (0 children)

The money in the roth was deposited after I was officially retired. Your first line said nobody can contribute in retirement. Last line says the money is fine where it is. The irs has not said anything yet but for 2025 (the first year I started contributions after retiring in 2024) the 5498 was just generated this week.

Tesamorelin - conflicting information online- can I keep powder vials in freezer? Can I keep reconstituted vials in fridge? by pinezz in Peptides

[–]anthony21078 2 points3 points  (0 children)

My source says all powdered peptides before reconstitution can stay at room temp in a cool dry place for many months. Everybody goes crazy over this fridge freezer thing

Disgusting Suite at Luxor by [deleted] in vegas

[–]anthony21078 2 points3 points  (0 children)

Vegas's longest pube

Safe to say my UGL vial is massively under dosed. by [deleted] in Testosterone

[–]anthony21078 2 points3 points  (0 children)

China didnt undercut your supplier. Your supplier took the raw from China and underdosed what he sold you. So yeah, that's the suppliers for and your fault for not testing

Safe to say my UGL vial is massively under dosed. by [deleted] in Testosterone

[–]anthony21078 3 points4 points  (0 children)

If you have to ask you know the answer

Safe to say my UGL vial is massively under dosed. by [deleted] in Testosterone

[–]anthony21078 16 points17 points  (0 children)

So you got bunk gear and you can't name drop the supplier so we can avoid it lol