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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
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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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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
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I have an IRA at Pentagon Federal Credit Union. They mailed
I have an IRA at Pentagon Federal Credit Union. They mailed a notice to my old address which I did not get. I should have taken an RMD in 2016 & 2017. Pen Fed calculated 2016 is $1274.56 & 2017 is $13… read more
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How do I calculate a required minimum distribution from an
How do I calculate a required minimum distribution from an IRA when someone turns both 70 1/2 and 71 in the same year? For 71; I use the balance in the IRA as of Dec 31st what balance do I use to calc… read more
emc011075
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Turbotax says I can have a $6500 IRA. My only income is SS
Turbotax says I can have a $6500 IRA. My only income is SS of 28K and RMD of 21K. I thought only earned income would allow me to have an IRA. Taking 6500 IRA will save me 1700 in income tax to fed. Is… read more
Robin D.
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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.
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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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Will 70 yrs old June 28th 2018, so know abt RMD. Have a
Will b 70 yrs old June 28th 2018, so know abt RMD. Have a Simple IRA w a part-time employer, a Rollover IRA, and a 4 yr-old SE401K from a 16 yr S-Corp of which I am Pres, Sec, Treas, and only sharehol… read more
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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
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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 an IRA with about $1.3 million. I turn 70.5 in
I have an IRA with about $1.3 million. I turn 70.5 in August. I anticipate taking huge RMD's with corresponding tax consequences. My wife and I at retired. Our annual income is around $240/yr, Should … read more
Robin D.
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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.
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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
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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
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Lev
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IRS Minimum Required Distribution--The amount of the RMD hasnt
IRS Minimum Required Distribution--The amount of the RMD hasn't been paid to me yet, but Form 5498 has been filed with IRS by Ameriprise Trust Company. Since it's been filed with IRS I think I need to… read more
Lev
Lev
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Bachelor's Degree Equivalent
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When preparing my 2008 return someone told me that my IRA distribution
When preparing my 2008 return someone told me that my IRA distribution could be taken in the first 3 months of 2009. So I did that. And I used it on my 2008 return. Now today I received a 1099-R from … read more
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