Tax

Have a tax question? Ask a tax Expert

Connect one-on-one with {0} who will answer your question

Related Tax Questions
I need help with a 401 k distribution and taxes? 2019, I
I also have an outstanding loan through my 401k that they said would be reported as income ?… read more
NelsonProTax
NelsonProTax
Remote Tax Support Expert
Master's Degree
405 satisfied customers
I own and run a sole proprietorship. I am considering
I own and run a sole proprietorship. I am considering incorporating as an LLC and filing to be taxed as an S corp. I'd also like to open a Solo 401(k). I am looking for guidance on whether this makes … read more
NelsonProTax
NelsonProTax
Remote Tax Support Expert
Master's Degree
405 satisfied customers
I would like to discuss a 401K loan I have taken. I have
Hello, I would like to discuss a 401K loan I have taken. I have paid it back for 1.5 years, what would be my tax penalty if I stopped paying it back and considered it a withdraw? … read more
Tax.appeal.168
Tax.appeal.168
Principal
6,468 satisfied customers
I quit my job last week and joined another company, but I
I quit my job last week and joined another company, but I had a 401k loan with my old company. Fidelity, the 401k administrator, has sent a letter basically re-organizing my loan payment to monthly, i… read more
Alexander Efros
Alexander Efros
Financial Planner/Tax Specialist
Masters of Business Administration (MBA)
816 satisfied customers
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
3,864 satisfied customers
For a portion of 2018 I had two incomes....one from previous
For a portion of 2018 I had two incomes....one from previous employer that was paying me as part of exit agreement. this was W-2's so no issues. My new job/employer, alss W-2. Issue is Box 12 on W-2 t… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
7,255 satisfied customers
I will be getting a severance package at my job, Dec 21 will
I will be getting a severance package at my job, Dec 21 will be my last day worked. I have a 6K loan on my 401k with a 60 day window to pay pack or it is counted as a withdrawl. I plan not to pay it b… read more
DK_CPA
DK_CPA
CPA
Master of Science in Accounting & Taxationb
1,254 satisfied customers
I am divorcing. Alimony will be $3,500 per month. I know the
I am divorcing. Alimony will be $3,500 per month. I know the law changes for 2019. If I sign divorce decree in 2018, will alimony be taxable or deductible in 2019. … read more
Barbara
Barbara
Enrolled Agent, Paralegal
10,337 satisfied customers
I am buying my first home. I have a roth 401K and want to
I am buying my first home. I have a roth 401K and want to use those funds for the downpayment in the amount of $75,000. I have been reading to transfer it to an IRA and withdraw from that to avoid pen… read more
Bill
Bill
Master's Degree
3,156 satisfied customers
I had a question about a 401K distribution and the adoption
I had a question about a 401K distribution and the adoption tax credit. I adopted three children in 2012. I have not used the carryover adoption tax credit at all. So I have the maximum credit which i… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
17,888 satisfied customers
Hi there. I just retired. My yearly pension is $57,215. I will
Hi there. I just retired. My yearly pension is $57,215. I will be 59.5 in a few months. To pay off debt I am thinking of taking out $75,000 from my 401k this year. What will be the taxes on the $75,00… read more
Barbara
Barbara
Enrolled Agent, Paralegal
10,337 satisfied customers
HELLO, I JUST TOOK OUT A 401K LOAN FOR $20,000 AND I WAS TOLD
HELLO, I JUST TOOK OUT A 401K LOAN FOR $20,000 AND I WAS TOLD THAT I WILL BE PAYING MYSELF INTEREST AND NOT A BANK. IF THAT IS THE CASE, WHY SHOULD YOU HAVE TO PAY INTEREST AT ALL? IS THAT AN IRS REQU… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
8,659 satisfied customers
IF I BORROW FROM MY 401K AND DONT PAY IT ALL BACK A FRIEND
IF I BORROW FROM MY 401K AND DON'T PAY IT ALL BACK A FRIEND TOLD ME IT IS ONLY A 10% HIT ON YOUR TAXES. I WILL BE LEAVING WORK ON DISABILITY IN THE FALL, AND I NEED TO KNOW FOR SURE HOW MUCH I NEED TO… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,728 satisfied customers
Good afternoon, I have roughly $15,600 in credit card debt
Good afternoon, I have roughly $15,600 in credit card debt along with a loan rolled up into one. I moved to another company and my old 401k is now inactive. I have $29,728.40 in my 401k account. I kno… read more
BK-CPA
BK-CPA
Bachelor's Degree
919 satisfied customers
I want to take money from company 401k and reinvest in property.
I want to take money from company 401k and reinvest in property. Is this posible without paying a penalty… read more
Marvin,EA
Marvin,EA
Enrolled Agent
Bachelor's Degree
1,663 satisfied customers
My husband and I have been offered a $125,00 doller buyout ...
My husband and I have been offered a $125,00 doller buyout at our work each. We have already made $32,000 each in wages and paid $16,000 in taxes on our wages together we have 2 children and ourselves… read more
RD
RD
Self Employed
Master's Degree
1,129 satisfied customers
I am considering taking a hardship withdrawal from my
I am considering taking a hardship withdrawal from my 401k. We had an emergency and had to put in a new septic system that cost appx 18k. Our credit cards are maxed and our hope was to take out a home… read more
Bill
Bill
Master's Degree
3,156 satisfied customers
need websites where i can purchase a copy of my 2002 income ...
need websites where i can purchase a copy of my 2002 income tax records. irs only has 2003-2005, which i have. I have lost my records for 2002. I loaned a relative money and he paid me back a large po… read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
6,994 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,937 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

261 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

17,888 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,659 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

< Previous | Next >

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x