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My wife works for DODEA as a teacher. Can she contribute to
My wife works for DODEA as a teacher. Can she contribute to her Thrift Savings Plan (403b) after 70-1/2 or does she have to stop contributions? What IRS Publication covers this topic? … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
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A taxpayer converts a Traditional IRA to a Roth IRA and
A taxpayer converts a Traditional IRA to a Roth IRA and receives a 1099R for 68,333. Her basis in the Traditional IRA is 58,500. None of the 58,500 was deducted on her return as she participated in a … read more
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This is a 401(k) question. So I think it's a tax question.
This is a 401(k) question. So I think it's a tax question. My daughter left one company and went to another. Her start date at her new employer was Nov 13, 2017 and they automatically enrolled her in … read more
Robin D.
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A client left her job after reaching the age of 55 in 2016.
A client left her job after reaching the age of 55 in 2016. She took one distribution from her 401(k) under the exception of separation of service after reaching age 55 in that tax year. She would lik… read more
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A year old employee wants to enter his employer's 401k plan
A 69 year old employee wants to enter his employer's 401k plan (which they just began) & defer 24,000 per year. He is not an owner in the business. Can he continue deferring after 70.5 years of age?… read more
Lane
Lane
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Lane, I have to my last question. The year old employee will
Lane, I have a follow up to my last question. The 69 year old employee will be working until he's 75. I thought with a 401k he did not have to begin taking the RMD until the later of April 1 of the ye… read more
Barbara
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A taxpayer who files jointly & earns 150k is thinking of
A taxpayer who files jointly & earns 150k is thinking of participating in her employer's 401(k) plan in 2017. Her husband earns 75k & is already a participant in his company's 401(k) plan. If she does… read more
Robin D.
Robin D.
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My wife was automatically added to her company's 401k plan.
My wife was automatically added to her company's 401k plan. She does not make a lot of money and I am afraid that her small contributions to this plan will forbid us from contributing to her IRA as I … read more
Dr. Fiona Chen
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A taxpayer will become 55 years old in July, 2016. She is
A taxpayer will become 55 years old in July, 2016. She is given notice that her job will come to an end because the funds allocated to the project will be there and there is no more funds available. I… read more
Barbara
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A taxpayer turns 70.5 years old on 8/24/2015. She is still
A taxpayer turns 70.5 years old on 8/24/2015. She is still employed & defers 24k into her employer's 401(k) account. She files jointly with her husband & their AGI is 800k. Therefore, she & her husban… read more
emc011075
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Can I rollover/convert a Traditional IRA into a 401K, in order
Can I rollover/convert a Traditional IRA into a 401K, in order to exclude it from RDM, prior to reaching age 70? After Age 70.5?… read more
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Doctoral Degree
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A person is both a part time employee and a contractor for
A person is both a part time employee and a contractor for another company. They want to open up an individual 401k plan. Can contributions be made into the individual 401k from both jobs. So for the … read more
Stephen G.
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I have a client who has a small business with his wife as an
I have a client who has a small business with his wife as an employee and pays her on a W-2. They both want to contribute to a solo 401k. Can they do this and if so how much can the wife contribute?… read more
Robin D.
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I am using Turbo Tax. My wife and I along with my brother
I am using Turbo Tax. My wife and I along with my brother and his wife are in a partnership of a farm. The K-1 shows income of $20,552 each. So my wife and I choose to put 20,000 each into a owner/sol… read more
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Doctoral Degree
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I have a solo 401k. I know that at age 70 1/2 I must withdraw
I have a solo 401k. I know that at age 70 1/2 I must withdraw the minimum distribution. Can I continue to make contributions after this time?… read more
Lane
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Doctoral Degree
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My is 72 years old, working, and her employer set up an 401K
My is 72 years old, working, and her employer set up an 401K for her, and deducted the money, what is the rule for deducting this from our taxes?… read more
Lev
Lev
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Bachelor's Degree Equivalent
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My employer offers a retirement plan which I do not contribute
My employer offers a retirement plan which I do not contribute to. On my W2 form they X'd box 13 - Retirement plan which is greatly reducing my deductable portion of an IRA contribution I want to make… read more
Lev
Lev
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Bachelor's Degree Equivalent
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My wife works for a small non-profit. They recently dissolved
My wife works for a small non-profit. They recently dissolved their relationship with the 403(b) provier (Wells Fargo Funds)and are now having employees direct her own retiremnt plan. We exceed the in… read more
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