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I have a tax question on US Savings Bonds. But the H&R Block
Yes, but the H&R Block person could not answer my question. We cashed EE bonds bought in 1986-1988. I was told we were taxed on those bonds that was at a tax rate set when we bought them. My question is what was the tax rate set in 1986 (4 1000 bonds were bought then, and a 1000 bond was bought in 1988) Thank you … read more
Bill
Bill
Master's Degree
2,074 satisfied customers
I just turned 70 years old, and I now have to start taking
I just turned 70 years old, and I now have to start taking mandatory withdrawals from my IRA and 401K accounts. The rules state that this starts when I reach 70-1/2. If I take money out at the beginni… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
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I am 71 years old and joint with my husband for tax-return.
I am 71 years old and joint with my husband for tax-return. My husband is 73 years old, but he is still working. I have a regular IRA account. Do I need to start to withdraw money from my account?… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
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, I inherited a substantial amount of money and despite
Hello, I inherited a substantial amount of money and despite being generally familiar with my options, I do not know what the best approach would be in terms of allocating all of my money. I am only 2… read more
Richard
Richard
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Doctoral Degree
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Wash Sale question: I own a TIPS bond maturing in 2043 that
Wash Sale question: I own a TIPS bond maturing in 2043 that has lost some value due to the rise in interest rates. I'd like to sell the bond to take the tax loss, and reinvest the proceeds by investin… read more
Barbara
Barbara
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my son is 21 and has zero coupon bonds maturing yearly until
my son is 21 and has zero coupon bonds maturing yearly until he is 26. He would like to liquidate them now to pursue a business venture.The current value is $87,000. 1)How much will he lose if he liqu… read more
Anne
Anne
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I have a $103,000 IRA on a CD that matures Jan. 2012. I am
I have a $103,000 IRA on a CD that matures Jan. 2012. I am 73 years old and would like to close the IRA and invest the money in a $100,000 life insurance. How much would I have to pay in taxes if I wi… read more
Bill
Bill
Master's Degree
2,074 satisfied customers
i have a client who is recently divorced. she is to receive
i have a client who is recently divorced. she is to receive 1/2 of her ex's 401k. she plans to rollover the amount she receives minus $8000. is only the $8000 taxable, she is 45? she also has received… read more
Lev
Lev
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Bachelor's Degree Equivalent
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I have rolled over my company 401k retirement plan to a fixed
I have rolled over my company 401k retirement plan to a fixed annuity. What is the mandatory amount I must take out of my qualified accounts (401K) investments annually starting at age 70 1/2? The inv… read more
Bill
Bill
Master's Degree
2,074 satisfied customers
I am trying to figure out if I will need to have any money
I am trying to figure out if I will need to have any money ready for paying taxes in April 2011. I am unemployed and have had no income for over 2 years. In 2010 I cashed in 40in bonds (they were not … read more
Richard
Richard
Tax Attorney
Doctoral Degree
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My mom died in Oct 2009. Her estate is to be divided between
My mom died in Oct 2009. Her estate is to be divided between myself (Executor) and my two sisters equally. Included in the estate are 119 Series E savings bonds. All will mature between 2013 and 2019.… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
GOOD MORNING I am doing some estate (tax) planning for myself
GOOD MORNING: I am doing some estate (tax) planning for myself and want to maximize contributions to my (6) favorite charities. I currently have an IRA and a 401K (TSP)which I plan to leave all or mos… read more
Bill
Bill
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My wife will turn 70 in December of this year. She has an
My wife will turn 70 in December of this year. She has an IRA and would like to know does she need to start withdrawing from the IRA this year or next? When she does start her withdrawels which Applic… read more
Merlo
Merlo
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Hi. I have a friend who is 67 years old. She is planning
Hi. I have a friend who is 67 years old. She is planning to withdraw part ($7k) of her SEP IRA amount and place it into stock. I know that this is no penalty. But, since she is doing a withdrawal, wil… read more
Merlo
Merlo
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My only income is my Social Security of $1900/month. I am
My only income is my Social Security of $1900/month. I am subject to mandatory withdrawals from my IRA as I am 70 1/2. My wife has no income and we file jointly. (1) If I withdraw a substantial portio… read more
Bill
Bill
Master's Degree
2,074 satisfied customers
I am one of 4 siblings (living in CA, CO, OR, and AZ). We
I am one of 4 siblings (living in CA, CO, OR, and AZ). We all inherited equally my mother''s IBonds, bank accounts, and house (she died 7/2007). We recieved 1099-INT''s for the IBonds and bank interes… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
We (family of 4) am normally in the highest tax bracket in ...
IRA - Roth IRA conversion. We (family of 4) am normally in the highest tax bracket in California. In 2006 and 2007 we will be in a much lower bracket. In 2008 - we may go back to a high tax bracket (o… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,424 satisfied customers
Saving my monthly pension for withdrawal at 59 1/2
I am 57 years old and will begin withdrawing my single life annuity pension, which I understand from questions asked that I will not have penalities since the amount will not change for the remainder … read more
Theresa Romaker
Theresa Romaker
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