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I have a retirement question. If someone has a $ 300,000
I have a retirement question. If someone has a $ 300,000 retirement plan that is combined with OPERS and Deferred Comp, if that person is 58 years old now, when they reach 70 and a half, will that per… read more
Lev
Lev
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I turned 70 in August of 2018. Am I required to withdraw
Second Opinion] I turned 70 in August of 2018. Am I required to withdraw from my simple IRA's by December 31, 2018? … read more
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To Pearl: Iam a 73 year old man with a Tax Burden of
Iam a 73 year old man with a Tax Burden of "RMD-70" and I would pay taxes on the amount I must withdraw . . . = 10% of the total nest egg? … read more
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My friend has a simple ira but she hasn't drawn any money
My friend has a simple ira but she hasn't drawn any money out of it. Does she has to report it to the irs and pay taxes on it? Also, does the irs penalize you if you overpay your taxes?… read more
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My wife and I each have IRAs. She is and I am 73. Do we each
My wife and I each have IRAs. She is 69 and I am 73. Do we each do separate mandatory distributions?… read more
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I will be 74 years old in march of 2016, I want to retire in
I will be 74 years old in march of 2016, I want to retire in may of 2016, do I need to take my required minimum distribution for 2016 taxable year?… read more
Lev
Lev
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I was 70 1/2 years old in August 2015. I am still working.
I was 70 1/2 years old in August 2015. I am still working. Every year I make the maximum contribution to an IRA. I hear that I need to start taking distributions soon. When do I need to do that? What … read more
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I am 71 years old and joint with my husband for tax-return.
I am 71 years old and joint with my husband for tax-return. My husband is 73 years old, but he is still working. I have a regular IRA account. Do I need to start to withdraw money from my account?… read more
Lev
Lev
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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
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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
Lev
Lev
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My birthday is XXXXX 1942.i have several accounts in my regular
My birthday is XXXXX 1942.i have several accounts in my regular ira. When is the last day i have to draw money from my regular ira? and how much? if i am late what is the penalty?… read more
Lev
Lev
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Bachelor's Degree Equivalent
32,519 satisfied customers
I wanted to take a distribution from my IRA in tax year 2012
I wanted to take a distribution from my IRA in tax year 2012 and filled out the proper paperwork on Dec. 24th. I'm over age 59 1/2 and under RMD's. My local bank forgot to process and it processed in … read more
Lev
Lev
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Bachelor's Degree Equivalent
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I HAVE AN OLD 401K PLAN AND A NEW ONE WITH MY NEW EMPLOYER.
I HAVE AN OLD 401K PLAN AND A NEW ONE WITH MY NEW EMPLOYER. I WILL BE TURNING 70 AND A HALF SOON AND DO NOT WANT TO TAKE A MINIMUM DISTRIBUTION FROM THE OLD PLAN. IF I ROLL IT OVER INTO THE NEW PLAN W… read more
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I have managed accounts at a major brokerage house for my non
I have managed accounts at a major brokerage house for my non contributory IRS, IRA annuity and Keogh. At age 69 in year 2000, I took out an annuity from 1/2 of my IRA. It was implied or I misundersto… read more
Lev
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I HAVE RETIRED AND PEOPLE TELL ME I MUST TAKE A PORTION OF
I HAVE RETIRED AND PEOPLE TELL ME I MUST TAKE A PORTION OF MY 401k OUT WHEN I TURN 70-1/2 YRS OLD. CAN YOU TELL ME WHAT %age AND WHAT I CAN DO WITH THOSE FUNDS? THANK YOU, LES.… read more
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I just found outiNg did not take take the MDR from an IRA for
I just found outiNg did not take take the MDR from an IRA for 2010. I have 32,500 in that account. What do I do? Thank you for your help.… read more
Lev
Lev
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Bachelor's Degree Equivalent
32,519 satisfied customers
I turned 70 1/2 ON December 18, 2009. When must I take a
I turned 70 1/2 ON December 18, 2009. When must I take a minimum distribution from my Federal Thrift Savings Plan and IRA's. I understand that I don't have to take one for 2009 but must take one for 2… read more
Lev
Lev
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Bachelor's Degree Equivalent
32,519 satisfied customers
an individual has reached 70 1/2 years of age and continues ...
an individual has reached 70 1/2 years of age and continues to work for the nonprofit through which he has a 403B retirement plan. is it true that he does not have to take a distribution because he is… read more
Lev
Lev
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Bachelor's Degree Equivalent
32,519 satisfied customers
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