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Related Tax Questions
If a 401k loan was deducted from your 401k balance in 2018
if a 401k loan was deducted from your 401k balance in 2018 while unemployed, do you still qualify under the new Tax Act to roll the default into an IRA before April 15 2019. It is a qualifed plan offs… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
3,894 satisfied customers
I have a 401K, IRA retirement invested thru. From all my
Good Morning, I have a 401K, IRA retirement invested thru ***** *****. From all my research, I found that Capital Gains that are automatically reinvested into my retirement are NOT taxable. But ***** … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,905 satisfied customers
I had 401K on which I had a loan. I lost my job, so now I
I had 401K on which I had a loan. I lost my job, so now I have to repay the loan back. I have another RollOver acount with different company. If I take money from that account to pay off the loan, wou… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,905 satisfied customers
I had 401K on which I had a loan. I lost my job, so now I
I had 401K on which I had a loan. I lost my job, so now I have to repay the loan back. I have another RollOver acount with different company. If I take money from that account to pay off the loan, wou… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
3,894 satisfied customers
In 2015 I left my job. At that time I had a Vanguard 401K
In 2015 I left my job. At that time I had a Vanguard 401K with about 30K. Roughly 18K of that amount was Roth funds because I had switched to Roth contributions while I was with that previous employer… read more
Mark Anderson
Mark Anderson
Attorney
Doctoral Degree
215 satisfied customers
My question is for the current tax year (2018). I took an
HelloMy question is for the current tax year (2018).I took an early retirement from my prior employer and had a 401k account that had outstanding loans. I rolled over the 401k balance to an IRA this y… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
17,888 satisfied customers
My company got bought over by another company and because if
My company got bought over by another company and because if that our existing 401k plan got closed. So I was told that I can either roll over to new company plan or go with a IRA. I do have an outsta… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
3,894 satisfied customers
We are being audited on our 2015 taxes... and I think I know
We are being audited on our 2015 taxes... and I think I know where there is a problem. During 2015, we transferred $100K from our employer-backed 401K to a Solo K. So... the 1099-R shows a disbursemen… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,408 satisfied customers
Just started a new job in December. On 12/14/15 I did a
just started a new job in December. On 12/14/15 I did a roll-over of my 401k from my old employer to my new employer. While employed at my old employer I had a loan taken out with a balance of $20k. I… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
17,888 satisfied customers
I have a 401k with my current employer, but am changing jobs
I have a 401k with my current employer, but am changing jobs soon. I am considering taking a loan on my 401k before changing jobs. What is the IRS law regarding the amount of time you have to repay a … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
17,888 satisfied customers
I recently left my previous employer to purchase a business.
I recently left my previous employer to purchase a business. The plan is to do a "Roll Over Business Startup" with a portion of the funds. I have a 401k and a Pension that will be rolled over into the… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,905 satisfied customers
Hi, My company was bought in early January. The new company
Hi, My company was bought in early January. The new company has retained me as an employee. I have a loan out with the old company's 401k (BlueStar). They will not let me work out a payment plan with … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,905 satisfied customers
I took disbursements from Rollover 401K from previous job as
I took disbursements from Rollover 401K from previous job as well as my Roth IRA this year for a down payment on a house as a first-time homeowner (per IRS guidelines). My intentions were to only "bor… read more
R. Klein, EA
R. Klein, EA
Tax Advisor
Master's Degree
2,693 satisfied customers
Hello, I cashed out and rolled over an entire employer 401K
Hello, I cashed out and rolled over an entire employer 401K distribution from Fidelity in 2011. Fidelity's 2011 tax statement (forms 1099-DIV, 1099-INT, 1099-MISC, and 1099-B Summary of proceeds) show… read more
R. Klein, EA
R. Klein, EA
Tax Advisor
Master's Degree
2,693 satisfied customers
My fiance was terminated from her job on 4/26/2010. The Human
My fiance was terminated from her job on 4/26/2010. The Human Relations Director who fired her asked if she had outstanding loans, which she did. This woman then stated she would call the 401k plan ad… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,905 satisfied customers
Hi, quick question. Im considering taking an early partial
Hi, quick question. I'm considering taking an early partial disbursement on my 401k in order to resolve some credit card debt. Married, joint income of 155K, live in CA, was considering withdrawing ap… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,905 satisfied customers
IF YOU HAVE A LOAN FROM A 401K AND WERE PAYING THROUGH PAYROLL
IF YOU HAVE A LOAN FROM A 401K AND WERE PAYING THROUGH PAYROLL DEDUCTION, AND YOUR PLACE OF BUSINESS CLOSES. NOW YOU ARE LOOKING AT A TAX DEBT YOU WILL NOT HAVE THE FUNDS FOR, WHAT ARE YOUR BEST OPTIO… read more
JKCPA
JKCPA
Certified Public Accountant (CPA)
Bachelor's Degree
1,796 satisfied customers
I defaulted on my 401 K loan in 2007 and the balance
I defaulted on my 401 K loan in 2007 and the balance of 11,000.00 was reported to the IRS and I had to pay income taxes + a penalty on it. However my employer says I still have to make payments to rep… read more
Bill
Bill
Master's Degree
3,157 satisfied customers
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