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My husband and I took $10,000 out of an annuity this year
My husband and I took $10,000 out of an annuity this year and gave $5,000 of it to our son and daughter-in-law to pay for medical expenses for their son who died on May 24, 2018. Is the $5,000 taxable… read more
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My Mother had 3 strokes in 2017 and had to go into a
My Mother had 3 strokes in 2017 and had to go into a assisted care facility. I had to cash out her Annuity to pay for this facility. At the time of full surrender they asked if we wanted the taxes tak… read more
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My dad is considering taking a large lump sum from his
my dad is considering taking a large lump sum from his annuity to pay for his care during this last year of his life. He has end stage prostate cancer. But it seems the taxes are enormous as it is all… read more
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If I had money in an annuity and withdrew it after the 7
If I had money in an annuity and withdrew it after the 7 years, but prior to being 59 1/2....how can I avoid the tax penalty? Can I take the money I made in interest and put it into a ROTH IRA to avoi… read more
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On an early 401K distribution my wife who is 58 took. I am
On an early 401K distribution my wife who is 58 took. I am 65 years old. Is the 10% penalty applicable ? Can we exempt the tax because medical bills exceeded 10% of AGI ? Would the entire distribution… read more
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Can I take an early IRA distribution AFTER my loan closes and
Can I take an early IRA distribution AFTER my loan closes and still apply the distribution for the first time home buyers exception? Publication 590 is not particularly clear on this.… read more
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I made an error on a withdrawal request from my annuity. Instead
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I understand long term capital gains for tax year 2010 can qualify for 0 taxation depending on your income I think 34,000 is the cutoff. If my taxable income is 36,000 with 12,000 in long term capital… read more
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i worked as a loan officer on commission, my employers has
i worked as a loan officer on commission, my employers has me on a w-2 when i close a loan my mortgage broker takes out his commission does not pay tax on that, on my check the commission could be 2,0… read more
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I just did my taxes online and for the first time I owe a lot of money. Usually I get a refund. My mother passed away last year and the money I got from her pension moved my income from $38,835 to 72,… read more
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This year I made an appt. for my taxes to be prepared by CPA
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I am a divorced single mother who does not work outside of
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I worked at 2 jobs last year. I made about the same amount
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I am trying to calculate how much tax I will owe if I sell
I am trying to calculate how much tax I will owe if I sell stock I have owned for more then 5 years. 1. If my total gross income for 2008 is less then $5,000 at the moment. If I sell stocks for a prof… read more
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I am ill and must obtain a withdrawal from my annuity. I ...
I am ill and must obtain a withdrawal from my annuity. I am not 591/2. I am trying to figure out how to offset the amount of federal tax paid. What are your suggestions. I have thought about having ex… read more
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My mother-in-law is an alzheimers patient in a ...
My mother-in-law is an alzheimer''s patient in a nursing home. She is on medicaid. She receives a federal annuity $13K annually and $5K in Social Security. All of her income has been assigned to the n… read more
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I have a SEP IRA and need to make an early withdraw for my ...
I have a SEP?IRA and need to make an early withdraw for my daughters medical bills as I do not have insurance. Would this qualify for the 72T exception on my taxes to avoid the 10% penalty and increas… read more
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