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I took a $5000 withdrawal from my IRA and returned it within
I took a $5000 withdrawal from my IRA and returned it within 60 days. I made the withdrawal on 12/5/2015 and returned it on 1/29/2016 within the 60 days. So it should be tax free. I didn't report it on 2015 due to that. Now I got a letter from the IRS saying I owe taxes on that withdrawal. How do I show them I returned it … read more
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I have a complicated question about missed RMDs. My mother
I have a complicated question about missed RMDs. My mother had 2 IRAs when she died in 2014. I did not know they were IRAs or that I needed to take RMDs until 2016. I took 3 withdrawals in 2016 into a… read more
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Wife inherited IRA from when Mother died in May 2012. Mother took one RMD and after Mother died, her daughter (my wife) did not take RMD for any of the other intervening years and we also therefore di… read more
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I'm a 33 years old man living in New Jersey. My Roth IRA had
Hi, I'm a 33 years old man living in New Jersey. My Roth IRA had $35,231 in it. On 6/6/2016, Merrill Lynch (the company it was with) had decided to terminate it & distribute the funds ($31,613) back t… read more
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I am the beneficiary of an IRA from my mother's estate. She
I am the beneficiary of an IRA from my mother's estate. She died on 2/14/15 and Wells Fargo did not disperse the funds until just this week even though there is no probate on IRA monies, this means we… read more
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I rolled over a 401K from Prudential into an IRA with Vanguard
Hi, I rolled over a 401K from Prudential into an IRA with Vanguard in 2006. I never took possession of the funds, it was a direct wire transfer. The 401K included (21%) before-tax and (79%) after-tax … read more
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I received an inherited IRA from my Mother's Estate
I received an inherited IRA from my Mother's Estate which is administered by Merrill Lynch. It was supposed to be all done in December, and I was promised I could make a disbursement before the end of… read more
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My parents have IRA accounts with Merrill Lynch. My mom
My parents have IRA accounts with Merrill Lynch. My mom passed away this year and Merrill Lynch is transferring her funds to my dad's accounts right now. Unfortunately the transfer won't be completed … read more
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To Roth IRA expert: A joint filer was NOT eligible to
To Roth IRA expert: A joint filer was NOT eligible to contribute to a Roth IRA in 2014 as modified adjusted gross income exceeded $191,000. Using Fidelity, my friend's spouse contributed $6,500 into R… read more
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I have already tax paid (post tax) contributions to
I have already tax paid (post tax) contributions to traditional IRAs. When taking a distribution, I'm supposed to add together all my IRAs for the total value on Dec 31 of the previous year. Q: Do I a… read more
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My mother passed away in April 11th 2002,. I was born 12/4/1956
My mother passed away in April 11th 2002,. I was born 12/4/1956 and I inherited the IRA with a value at that time of $9,925.23 I transferred the Inherited IRA to an Inherited IRA account at Charles Sc… read more
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Ed when I rolled over my 401K from my previous employer
Hi Ed when I rolled over my 401K from my previous employer to my current employer I was advised that it had $17,483 of Post 1986 after tax contribbtions needed to be rolled into a Roll IRA. I did this… read more
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My mother passed away in January 2008. I received an inherited
My mother passed away in January 2008. I received an inherited IRA which I set up with Merrill Lynch. They told me that since it was an inherited IRA they would set it up to ensure any required mandat… read more
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Hello I received a 1099-R which was a inheritance from
Hello I received a 1099-R which was a inheritance from my mother who passed in 2012. This IRA was rolled over into my IRA account. My understanding is it is tax free. When I report the information on … read more
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I am a university professor older than 70.5 still working and
I am a university professor older than 70.5 still working and still contributing to my TSA and ORP retirement plans. I also have seperate IRAs. This is the first year for me to take required minimum d… read more
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If an IRA was rolled over incorrectly, can it be reversed
This is a NC issue. December 19, 2003 my 60 year old husband (I was 42) passed away of cancer. In February 2004 I spoke with my Merill Lynch rep and he said we would combine both IRA's because they we… read more
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In 2005 I recieved as a beneficiary on my mothers Merrill ...
In 2005 I recieved as a beneficiary on my mothers Merrill Lynch account ,a sum of money upon her death. Since it was a death benifit, is this taxable as income? What forms need to be filled out ? I re… read more
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I recently inherited an ira from my father. I was told ...
I recently inherited an ira from my father. I was told that I must take a minimum draw, yearly, based on my age. This I understand. However, the accountant preparing my father's K1 told me that I woul… read more
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