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I mistakenly withdrew $1000 from a non-employer Roth IRA
I mistakenly withdrew $1000 from a non-employer Roth IRA while trying to undo an over-contribution into that Roth. Can I count that $1000 as part of the needed refund of excess contribution, or do I h… read more
emc011075
emc011075
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My husband and I just realized, and want to correct
My husband and I just realized, and want to correct contribution to Roth IRA for 2017, that we exceeded the combined wages, to do so. Please let me know how we can best do so. Please see the facts and… read more
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My name is***** I was just online in the chat and got cut off so I do not know if anything can be retrieved. I think I am still a member of Just Answer. … read more
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My spouse and I plan to buy a California home after April 15
My spouse and I plan to buy a California home after April 15 2018 within the next 3 months. We plan to occupy the home as our primary residence. We will be first time home buyers with this purchase. I… read more
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I'm confused about self-employed SEP-IRA contribution
i'm confused about self-employed SEP-IRA contribution deadlines. If a self-employed person wants to contribute to his SEP-IRA, if he files a 2017 extension can he make the contribution by the extended… read more
LEV
LEV
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I am a 68 year old divorced woman. I owe $1900 in federal
I am a 68 year old divorced woman. I owe $1900 in federal taxes (will receive $790 back in State of OH taxes). I took out money from my IRA in June 2017 for home improvement project that was postponed… read more
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This is a question for Tax Professional only... ... Does a
This is a question for Tax Professional Barbara only...Hi Barbara ... Does a SEP have to be opened before 4/17 if we are filing for an extension and won't know the amount we want to contribute until a… read more
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My husband has worked on the island of Kwajalein Atoll in
My husband has worked on the island of Kwajalein Atoll in the Marshall Islands from August 5th, 2015 until February 28, 2018. For the year 2015 we reported his year for tax exempt started on August 5t… read more
Robin D.
Robin D.
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Vocational, Technical or Trade School
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I converted $10k from my Traditional IRA to a Roth IRA in
I converted $10k from my Traditional IRA to a Roth IRA in December 2017. The goal was to pay taxes up to the 15% bracket. I ended up converting about $3500 too much and now need to recharacterize that… read more
LEV
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Taxpayer was off from job at the end of January 2017.
Taxpayer was laid off from job at the end of January 2017. Received large severance package. Rolled over existing 401K into a traditional individual IRA. Former employer deposited another $1500 to 401… read more
Robin D.
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MY HUSBAND HAS AN IRA FOR .335,585.87. HE TURNED 71 NOVEMBER
MY HUSBAND HAS AN IRA FOR .335,585.87. HE TURNED 71 NOVEMBER 24, 2017..WE DID NOT KNOW THAT WE WERE TO BEGIN TO TAKE OUT WITH RMD AT AGE 70 1/2. WHAT DO WE DO HOW DO WE START AND WHAT PENALITIES DO WE… read more
Robin D.
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SIMPLE Plan S-corporation set up a SIMPLE plan in last
SIMPLE PlanS-corporation set up a SIMPLE plan in last quarter of 2017. Does the 3% match include salary total for the entire 2017 year or just from the date the plan was started?Thanks, JW… read more
Chad EA, CDFA®, CFP®
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Chad, I have a Schedule C realtor that turn 70 August of
Chad,I have a Schedule C realtor that turn 70 August of 2017. She will have earned income from her Schedule C. Is she allowed to contribute to a Traditional IRA and/or SEP IRA for 2017? If she has sel… read more
LEV
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At I am require to start pull money, but I don't know how
at I am require to start pull money, but I don't know how much. Also I'm not clear on what will happen is I delay IRS payment until April 2018. … read more
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I have retired effective September 29, 2017. I am going to
I have retired effective September 29, 2017. I am going to transfer my 401k to an IRA. Am I required to take the minimal distribution this year or can I defer it to 2018? … read more
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I have $10,000 in savings and a few stocks. I'm afraid that
I have $10,000 in savings and a few stocks. I'm afraid that the IRS will tax me heavily. Is it too late to open a Roth IRA or regular IRA to offset some tax liability? Also, I defaulted on my student … read more
Robin D.
Robin D.
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I left a previous company earlier this year and had about
I left a previous company earlier this year and had about $1200 in my 401k. I rolled that over into a Traditional IRA rollover. I have been since contributing to that rollover, and have not exceeded $… read more
Dr. Fiona Chen
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President
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I am a W2 hourly- contractor. In 2009 I did not know about
I am a W2 hourly- contractor. In 2009 I did not know about any 401k plan from my employer so I did not contribute anything. My question is - Can I buy $15,000 IRA before April 15'10 for last year ?… read more
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