Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

Related Tax Questions
I am the sole benficiary of my huband. He is on vacation and
he is on vacation and i received a distribution notification from merrill edge … read more
Dan Knierim
Dan Knierim
Master of Science in Accounting & Taxationb
117 satisfied customers
I turned seventy on May 21, 2018. I am in the process of
I turned seventy on May 21, 2018. I am in the process of trying to take my 401ks and 403bs from where they have been for 30 years and roll them into a format with an investment firm that will allow me… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,603 satisfied customers
I inherited my fathers 401k. from his second wife. whose
i inherited my fathers 401k. from his second wife. whose bithday and date of death do i use to calulate the minimum required distribution … read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
2,863 satisfied customers
1-Turning 65 next year planning to take social security
Good Evening1-Turning 65 next year planning to take social security benefits and stop withdrawing from my IRA. Would that be a good idea to stop the IRA withdrawals since 85% of my SS benefits receive… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,808 satisfied customers
I turned 70 1/2 in 2017. According to what i read one has to
I turned 70 1/2 in 2017. According to what i read one has to receive a minimum distribution the year after one turns 70 1/2. Please explain whether I am required to do this for 2017 or 2018 … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
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.
2,095 satisfied customers
My husband forgot to take his RMD from his IRA this year.
My husband forgot to take his RMD from his IRA this year. What do we need to do to correct the error? Thanks … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 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
15,569 satisfied customers
How do I calculate how much I need to take from my IRA's
How do I calculate how much I need to take from my IRA's when I turn 70 1/2 this year? … read more
Mark D
Mark D
Enrolled Agent
Master's Degree
1,338 satisfied customers
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
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
2,863 satisfied customers
How do I figure out what the RMD (required minimum
How do I figure out what the RMD (required minimum distribution) is on my RRRetirement ? … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,603 satisfied customers
I was born on June 3, 1946. I have a 401(k) with IBM. I
I have a 401(k) with IBM. I retired in 3/2014. I went back to work for IBM part time in 6/2015 and have been working continuously since and will stop working for them on 12/31/2016. I will be 70 1/2 in December. I was told that I do NOT have to take a RMD for this year. Is that true? That my first RMD will be for tax year for 2017. … read more
ABC Accounting Group
ABC Accounting Group
Bachelor's Degree
874 satisfied customers
I took a distribution from my IRA account in Feb of this
I took a distribution from my IRA account in Feb of this year before 70 1/2. Birthdate is 3/1/1946. I am now over 70 1/2. Will this distribution count as a RMD for 2016 if it exceeded the guidelines? … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 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
13,603 satisfied customers
My 70th birthday was on January 15, 2016. I have three
My 70th birthday was on January 15, 2016. I have three -pension and annuities. I have one million and 100 1,100.000 in annuities I have 300,000 in an ira I have 160,000 in another ira. I understand I … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 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 Equivalent
27,808 satisfied customers
I HAVE A CLIENT WHO IS RECEIVING A DEATH PENSION BENEFIT FROM
I HAVE A CLIENT WHO IS RECEIVING A DEATH PENSION BENEFIT FROM NYS. SHE IS 59 IN 2010. IS SHE ENTITLED TO A PENSION EXCLUSION OF 20,000 ON THE NYS RETURN.… read more
Wendy Reed
Wendy Reed
Master Tax Advisor Enrolled Agent
Master's Degree
3,197 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
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

23,761 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