Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

Related Tax Questions
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
15,569 satisfied customers
I will be in april. I will be 70 in april 2019 I will be 71
I will be 69 in april. I will be 70 in april 2019 I will be 71 in april 2020. I have ira account and about four 401 K accounts . Who determins what I am required to take out of either just IRA or IRA … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Have a client who will be age 70 in Sept 2018, therefore
Have a client who will be age 70 in Sept 2018, therefore going to be 70.5 in Mar 2019.Which Year Dec 31, XXX Acct Balance? Dec. 31st, 2017… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
2,714 satisfied customers
Do I have to take money out of my IRA by a certain age?
If I have money in an IRA, do I have to take some out by a certain age? It is invested in an insurance company. I am turning 72 in December, and my husband read that you must take some out before that… read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 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
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 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
14,896 satisfied customers
I am asking about the RMD (Required Minimum Distribution)
HI I am asking about the RMD (Required Minimum Distribution) for IRA funds when one's age exceeds 70.5 years. 1. If in a previous year, one distributed/cashed out more than the year's calculated RMD a… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
At age 70, I am required to receive an annual sum from my ira.
At age 70, I am required to receive an annual sum from my ira. Both the federal and state tax is withdrawn and paid in advance - before I receive the money. Do I include the income that I receive on m… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
My birthday is ***** 19, 1943. I have totaling $400,000.00 IRA
My birthday is ***** 19, 1943. I have totaling $400,000.00 IRA accounts. I have withdrawn totally $16,000.00 in tax year 2014. Is this amount meet the required min withdrawn from my IRA this year ?… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
My birthday is XXXXX 1942.i have several accounts in my regular
My birthday is XXXXX 1942.i have several accounts in my regular ira. When is the last day i have to draw money from my regular ira? and how much? if i am late what is the penalty?… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
tax question when i turn 70 in 1 1/2 its my understanding
tax question when i turn 70 in 1 1/2 its my understanding i have to take some payment from my 401 and roth ira. how much do i have to take each year . i have about 300K/yr income from other investment… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Im turning 70-1/2 on 8/21/13. Can you show me the tax rate
I'm turning 70-1/2 on 8/21/13. Can you show me the tax rate schedule for annual IRA min distribution and do I pay tax on that distribution for all of 2013 or 6 months.… read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
TO MS. ANNE OF 10/17/2011: ADDITIONAL: In the meantime received
TO MS. ANNE OF 10/17/2011: ADDITIONAL: In the meantime received some staments from IRRA Custodian about unvolutarily closed IRRA account. On October 31sr, 2011 they, per calculaltion based on standing… read more
Anne
Anne
Master Tax Preparer
1,328 satisfied customers
I understand you must begin withdrawing from an IRA the year
I understand you must begin withdrawing from an IRA the year after you turn 70 1/2. How much must you withdraw every year?… read more
Wallstreet Esq.
Wallstreet Esq.
Tax Attorney
Doctoral Degree
586 satisfied customers
IRS Publication 590 specifies on page 34 that the required
IRS Publication 590 specifies on page 34 that the required minimum distribution from an IRA for ANY year after you turn 70 1/2 must be made by December 31 of that later year. And the RMD for each year… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
If I turn 70 and a half this year and have $200,000 in IRAs
If I turn 70 and a half this year and have $200,000 in IRA's how much % will I need to take out?… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I turned 70 1/2 ON December 18, 2009. When must I take a
I turned 70 1/2 ON December 18, 2009. When must I take a minimum distribution from my Federal Thrift Savings Plan and IRA's. I understand that I don't have to take one for 2009 but must take one for 2… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
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
Tax Consultant
558 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

4,512 satisfied customers

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

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

59 satisfied customers

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

Robin D.

Robin D.

Senior Tax Advisor 4

15,569 satisfied customers

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

Megan C

Megan C

Certified Public Accountant (CPA)

8,655 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