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I withdrew $2700 from my Roth IRA in 2017 and I paid $270 in
I withdrew $2700 from my Roth IRA in 2017 and I paid $270 in Fed taxes on the money at the time of withdrawal. How much do I owe in taxes in 2018 on the 2700 … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I am in the process of relocating and I am going to withdraw
Hi Pearl. I am in the process of relocating and I am going to withdraw my retirement early and was wondering how much I would have to pay in taxes since it will put me in a higher tax bracket? … read more
Barbara
Barbara
Enrolled Agent, Paralegal
5,950 satisfied customers
I cashed out 2 large non-qualified annuities in 2016 and
Hi, I cashed out 2 large non-qualified annuities in 2016 and used all the money to purchase my home. I did this because my husband lost his job in 2015 and in the same week, my landlord in san Francis… read more
Barbara
Barbara
Enrolled Agent, Paralegal
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I I have a QDRO from a divorce. I am the alternate payee. I
Hi I I have a QDRO from a divorce. I am the alternate payee. I just got a letter from my exes pension department saying that I could cash it out because it's only $7000. Or wait 30 years and get $60 a… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
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I know I can withdraw 10k from my 401k for a down payment
Hello,I know I can withdraw 10k from my 401k for a down payment with no penalty. Is this pre or post tax?Thanks, Alex… read more
emc011075
emc011075
Senior Tax Specialist
Bachelor's Degree
16 satisfied customers
If a taxpayer, age66, received a 1099r for $100757.15
If a taxpayer, age66, received a 1099r for $100757.15 from some money he invested in a company called Jackson National Life Insurance Company. He says his money would make money. Should he be taxed on… read more
keeperumiami
keeperumiami
Sr Financial & Tax Consultant
Bachelor's Degree
1 satisfied customers
I RECENTLY CLOSED OUT A GARIX IRA ROLLOVER ACCOUNT AND HAD A
I RECENTLY CLOSED OUT A GARIX IRA ROLLOVER ACCOUNT AND HAD A LARGE AMOUNT OF MONEY WITHHELD AS "TEFRA WITHHOLDING". IT IS MY INTENTION TO ROLL OVER THIS WITHDRAWAL INTO ANOTHER IRA ACCOUNT WITH A DIFF… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Need a tax lawyer specializing in IRA accounts/withdrawals/etc.
Need a tax lawyer specializing in IRA accounts/withdrawals/etc. I was recently able to take my vested pension in a lump sum from a previous employer. I elected this option and rolled it over into an I… read more
Dr Arthur Rubin
Dr Arthur Rubin
Doctoral Degree
24 satisfied customers
I will be receiving a QDRO settlement from my husband in our
I will be receiving a QDRO settlement from my husband in our divorce which will equal half of his 401k accounts. I want to cash this in to make a down payment on a house and want to know if I will be … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
i had a 401K distribution for $95k; they took out $19k (noone
i had a 401K distribution for $95k; they took out $19k (noone explained they should have just rolled it into an IRA)..I put the remaining $76k into an IRA and then I took out $44k to buy my house. Do … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
An estate was created so that my fathers ira could be distributed
An estate was created so that my father's ira could be distributed between my half brother and myself, since he did not leave a beneficiary designation and I am the administrator. There is approximate… read more
fastfile
fastfile
Tax Advisor
Master's Degree
550 satisfied customers
I have a $100k 401(k) and I need a $50k distribution to fund
I have a $100k 401(k) and I need a $50k distribution to fund a home purchase. If I take a distribution of the 401(k) will they withhold taxes? If I roll it into an IRA, can I take the $50k out and pay… read more
Lane
Lane
JD, CFP, MBA, CRPS
Doctoral Degree
15,193 satisfied customers
i took money out of my 401k due to hardship. the gross distribution
i took money out of my 401k due to hardship. the gross distribution was 28,000. federal income tax was 5326 and there was this amt of 1857 called employee contributin/desinated roth contributions or i… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
i have a single shareholder c-corp with extremely variable
i have a single shareholder c-corp with extremely variable profits. i never know until the end of the month whether i have made a profit or not, and thus whether i have any money to pay myself a salar… read more
Jon Andrews
Jon Andrews
CPA
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Some of the spousal maintenance my wife receives will come
Some of the spousal maintenance my wife receives will come from an IRA. Some will come directly from me. Will my wife have to pay income tax on the spousal maintenance I pay her? She is moving back to… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
I have seperated from the federal goverment. Im in ...
I have seperated from the federal goverment. I'm in the process of withdrawing my full amount from my TSP to pay off an emergency debt. I was told to roll over the full amount to an IRA, then withdraw… read more
Bill
Bill
Master's Degree
2,278 satisfied customers
I am about to receive my half of the qualified domestic ...
I am about to receive my half of the qualified domestic relations order from a divorce. The amount I am to receive is not noted. Its base is about 12,ooo.- with a loss or gain over about 5 years. I do… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
My wife just received a partial lump sum when she retired ...
My wife just received a partial lump sum when she retired (jan) 20% was withheld for taxes. My question is can I put the remainder (28,000.) in an Ira account to retreve some of the 7000.00 withheld o… read more
Chris Hardisty
Chris Hardisty
Tax Associate
Master Degree
18 satisfied customers
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