Tax

Have a tax question? Ask a tax Expert

Connect one-on-one with {0} who will answer your question

Related Tax Questions
My husband died Feb 2016 at age 78. He was taking RMDs from
my husband died Feb 2016 at age 78. He was taking RMDs from his employer's Money Pension Plan. I took his RMD at the end of 2016 as required by law. I was told by his employer that I did not need to d… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
4,627 satisfied customers
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.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
22,016 satisfied customers
My husband has an IRA with approximately $50,000 in it. He
My husband has an IRA with approximately $50,000 in it. He turned 70 last November 26, He will be 71 soon. He didn't realize he had to take out a distribution. Is it too late. How much does he need to… read more
Barbara
Barbara
Enrolled Agent, Paralegal
10,800 satisfied customers
Beneficiary IRA - A person inherited an IRA and the year
Beneficiary IRA -A person inherited an IRA and the year they inherited it (2001), it was set up over the expected lifetime of the beneficiary (34.2 years). The IRA was paying out its RMD for several y… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
16,814 satisfied customers
My husband passed away March 4,2015. He was 67. I was 70. I
My husband passed away March 4,2015. He was 67. I was 70. I originally set the IRA up as s Spousal Inherited IRA so that I would not have to take RMD until he would have been 70 1/2. In Feb. 2016, I t… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
16,814 satisfied customers
A taxpayer has a substantial amount in s 401K and is now
A taxpayer has a substantial amount in his 401K and is now turning 72. Am I correct that the taxpayer will be required to take the amounts out of the 401K and it will be taxable.If this is correct, ca… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
22,016 satisfied customers
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
32,010 satisfied customers
I was 70 1/2 In 2012. I RETIRED MARCH 31, 2013 WITH A 401K.
I was 70 1/2 In 2012. I RETIRED MARCH 31, 2013 WITH A 401K. MY 401k BECAME AN IRA SHORTLY THEREAFTER. I THEN ROLLED OVER THE NEW IRA TO VANGUARD BUT WAS ISSUED THE RMD FOR 2012 BY ING WHICH GOT MY 401… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
16,814 satisfied customers
Hi, I have a friend who is above 70 years old. They took
Hi, I have a friend who is above 70 years old. They took out their RMD requirement from a regular IRA in 2011, infact, they took out more than the RMD, and they did it in November of 2011. They forgot… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
32,010 satisfied customers
Client forgot to have RMD for IRA for 2012. The Ira company
Client forgot to have RMD for IRA for 2012. The Ira company says the client must withdraw the RMD by 12-31-12, is this correct? What happens if client does not w/d RMD? Thank you, Fred… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
32,010 satisfied customers
My wife turned 70 in 2010. She has an IRA that until that year
My wife turned 70 in 2010. She has an IRA that until that year was held by Met Life where she is working. She went from full time to part time and was told she had to move the IRA as only fulltime emp… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
22,016 satisfied customers
I am 73, so I must withdraw each year from my annuity. When
I am 73, so I must withdraw each year from my annuity. When I requested the required minimum deduction from Hartford Insurance in 2010, I also signed up for an automatic withdrawal of the required ded… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
32,010 satisfied customers
I have managed accounts at a major brokerage house for my non
I have managed accounts at a major brokerage house for my non contributory IRS, IRA annuity and Keogh. At age 69 in year 2000, I took out an annuity from 1/2 of my IRA. It was implied or I misundersto… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
32,010 satisfied customers
I am turning [email protected]/2 in September, I need to start using withdrawls
I am turning [email protected]/2 in September, I need to start using withdrawls from my IRA's, Annuity, 401K, I understand, My choice is receiving checks on December 31 of this year or April 1 of next year. My Que… read more
Stephanie B.
Stephanie B.
Accountant
Master's Degree
556 satisfied customers
When The Reserve Money Market fund broke the buck in 2008,
When The Reserve Money Market fund "broke the buck" in 2008, a separate Reserve fund also failed (RPYQX--not a money market fund). RPYQX is currently in liquidation, being administered by a financial … read more
CGCPA
CGCPA
Owner
Bachelor's Degree
3,815 satisfied customers
I am 72 years old...Retired November this year. Am I required
I am 72 years old...Retired November this year. Am I required to take an RMD , if so, how long do I have , and what percent ?… read more
CGCPA
CGCPA
Owner
Bachelor's Degree
3,815 satisfied customers
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
Merlo
Merlo
Tax Consultant
558 satisfied customers
I have an IRA worth $7,786.03 (Ill be 71 in July) what will
I have an IRA worth $7,786.03 (I'll be 71 in July) what will the penalty be to cash this in due to my age… read more
RD
RD
Self Employed
Master's Degree
1,129 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,937 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

261 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

22,016 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,659 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

< Previous | Next >

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x