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In dollar terms, is it possible to quantify the approximate
In dollar terms, is it possible to quantify the approximate dollar value of an ordinary IRA (non-ROTH) transfer by an 80 yr old to a non-spouse beneficiary who is 48 years old based on the IRS rules o… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
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My mom had to take a full disbursement of her ira in order
my mom had to take a full disbursement of her ira in order to pay a deposit for an independent living facility. She is 80 years old. Is there a way she doesn't have to pay income tax on the amount sin… read more
Barbara
Barbara
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We took a 80,000 distribution from an IRA and landed it
we took a 80,000 distribution from an IRA and landed it someone on January 10th with the intention to put it back within 60 days after a house sold i was selling. it now is going to be another 60 days… read more
Robin D.
Robin D.
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Vocational, Technical or Trade School
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I have a complicated situation.... I am the beneficiary of a
i have a complicated situation.... I am the beneficiary of a 457 plan where the company went into receivership for several years and the funds were held by the receiver for about a year. … read more
Robin D.
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Vocational, Technical or Trade School
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My husband and I are buying a house that will close before
Hi. My husband and I are buying a house that will close before year end. We are each taking out $10k from our IRAs to help with closing costs. We will have a total salary (including these two $10k pay… read more
Lev
Lev
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Bachelor's Degree Equivalent
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I took in the first case $30,000 dollars which included
I took in the first case $30,000 dollars which included closing costs to buy a house in NC. (2016) I refinanced the same house in order to get a better interest rate, so I took another $4,000 from my … read more
Robin D.
Robin D.
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I'm interested in purchasing a home here in Nevada and
Hello, I'm interested in purchasing a home here in Nevada and trying to figure out the best way to spend money for a $100,000 mortgage downpayment plus $14,000 closing costs($114,000 total) from the f… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
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i have a 401 k account from my previous employer years ago
i have a 401 k account from my previous employer years ago in a bank. now i have another 401 k account with my next employer in another bank. and with the second bank, i also have a roth ira account. … read more
ShawnA
ShawnA
CEO
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I have some tax questions for the year 2013. Heres a little
I have some tax questions for the year 2013. Here's a little detail. I'm married and file jointly and I make about $60,000 and live in Washington state which has no state income tax. Now at the end of… read more
PDtax
PDtax
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I am looking for guidance on the Required Minimum Distribution
I am looking for guidance on the Required Minimum Distribution rules as they affect RMDs for IRAs that are the subject of a QTIP trust before the death of either spouse. Eugene Pender… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
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I am in the process of purchasing a home and would like to
I am in the process of purchasing a home and would like to use some of the money I have sitting in a 401k with my previous employer. My Retirement specialist indicated that the only way I could use th… read more
Megan C
Megan C
Certified Public Accountant (CPA)
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! am having trouble determining my required IRA distribution.
! am having trouble determining my required IRA distribution. I am 80 years old. What percentage must I withdraw and where can I find this information? Thank you for your help. Philip Laris… read more
Lev
Lev
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I am looking to withdrawal money from my ira as a first time
I am looking to withdrawal money from my ira as a first time home buyer to purchase a home. It would be to pay for my closing costs. Does that qualify for the 10% penalty to be waived? the ira was an … read more
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Lev
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Question about how self-directed IRA works. Suppose I have
Question about how self-directed IRA works. Suppose I have $50k in my traditional IRA, i roll it over to a self-directed IRA. I set up an LLC and puts $10k into it. Then I instruct the custodian to in… read more
MequonCPA
MequonCPA
CPA Firm Owner
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i have a dilemma about how to calculate some IRA minimum distributions Facts 92
i have a dilemma about how to calculate some IRA minimum distributions: Facts: 92 year old husband died March 2010 leaving $500K traditional IRA to wife as IRA sole account beneficiary 80 year old wif… read more
Bill
Bill
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I am 80 years old. If I switch some of my IRA to a Roth IRA...can
I am 80 years old. If I switch some of my IRA to a Roth IRA...can I withdraw some or all ot the Roth in a year or two, if necessary, without penalty?… read more
RD
RD
Self Employed
Master's Degree
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I have a 401k plan that is with my FORMER employer. Total
I have a 401k plan that is with my FORMER employer. Total balance= 70K. $32,000 is in the ROTH (Aftertax) segment but the account has only been open since 1/1/2007 as a ROTH 401K. How can I get the mo… read more
Merlo
Merlo
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I am 80 years old. I have money in IRA account. What ...
I am 80 years old. I have money in IRA account. What is my tax penalty if I take it out? Can I take it out all at one time? Last Year my taxable Income was $27,000. This year about the same. I paid af… read more
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