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Taxpayer inherited two IRA's and four Annuity accounts when
Taxpayer inherited two IRA's and four Annuity accounts when elderly father passed away in 2018. The two 1099-R forms show boxes for taxable amount not determined and total distribution checked. Howeve… read more
Carter McBride
Carter McBride
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I need to pay off a reverse mortgage from a home I inherited
I need to pay off a reverse mortgage from a home I inherited from my father's passing. My father had a 401k account for 80k which I can take in a lump sum distribution to payoff the reverse mortgage. … read more
DK_CPA
DK_CPA
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Master of Science in Accounting & Taxationb
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I'm 49, I earn 100k/yr and inherited an IRA Annuity worth
I'm 49, I earn 100k/yr and inherited an IRA Annuity worth 25k, is it best to take a lump sum and invest , what are the tax implications? Or do the 5 year or inherited stretch? … read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
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I currently am in a low tax bracket because I am retired and
I currently am in a low tax bracket because I am retired and only make around $8000 from a part time job. I am inheriting annuities that total around $100,000. I'm requesting lump sum payments, when i… read more
Robin D.
Robin D.
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Vocational, Technical or Trade School
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My husband in the beneficiary of an IRA account that has a
My husband in the beneficiary of an IRA account that has a life insurance rider. Can he roll the "IRA" portion of the account into an inherited IRA and take the "Life Insurance Portion" be tax-free? T… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,757 satisfied customers
I am the beneficiary of 2 annuities. The combined total
I am the beneficiary of 2 annuities. The combined total principal was $260K. The accrued value is $19,351.00. I have requested no FED and no State (CA) taxes be deducted, so the payout should be the f… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
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Both of my parents just passed away. The left an annuity worth
Both of my parents just passed away. The left an annuity worth about $200k to my brother, sister and myself to be divided equally. I am trying to find the best way that I can withdrawal the money with… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
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I am negotiating with a former employer about a lump sum long
I am negotiating with a former employer about a lump sum long term disability plan distribution. I am 61 years old, will be 62 in December. Is there any advantage to delaying payment until after I am … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,757 satisfied customers
I received an IRA-regular annuity but don't know which option
I received an IRA-regular annuity but don't know which option to take (lump sum, annual payout) since it will be taxable on 1099. I was told that this counted as additional income and therefore will b… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
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I make approximately 40,000 of taxable income a year (which
I make approximately 40,000 of taxable income a year (which would put me at or around the 25% bracket). My grandmother just passed away this year and I am to receive $48,000 in inheritance from her. I… read more
Megan C
Megan C
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i am receiving about 30K as a death benefit from my fathers
i am receiving about 30K as a death benefit from my fathers estate. how do I decide if I should take it all lump sum or request yearly disbursements. is their a guide that can help me decide?… read more
R. Klein, EA
R. Klein, EA
Tax Advisor
Master's Degree
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My former employer will be offering a choice between receiving
My former employer will be offering a choice between receiving my pension in lump sum or monthly annuity payments. I believe that if I take the lump sum option my income tax liability will be much hig… read more
USTaxAdvising
USTaxAdvising
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my grandmother left me an annuity of 28,657. how do i decide
my grandmother left me an annuity of 28,657. how do i decide if i should accept this amount as a lump sum or not? i live in Florida, she lived in NJ.… read more
Tax.appeal.168
Tax.appeal.168
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hi relative left me 403b with death benifit of 93,000, i just
hi relative left me 403b with death benifit of 93,000, i just retired at age 49 was going to put the 93,000 in immediate annuity for 15 years which pays 638 per month (metlife figures)then i will have… read more
Lev
Lev
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Recently my father died and left me 3 annuities for a total
Recently my father died and left me 3 annuities for a total of $180,322.14. The companies that have these annuities need me to choose how I want to be paid. They have offered me monthly payments good … read more
RD
RD
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This question is about annuities. My wife is a co-claimant
This question is about annuities. My wife is a co-claimant on her deceased mother's annuity. The annuity provides my wife with $90,507 in taxable income and $41,367 in nontaxable income. My wife has t… read more
Merlo
Merlo
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I have recently accepted an early retirement package where
I have recently accepted an early retirement package where I will get one years salary in lump sum. The company wants to make the lump sum payment on November 30, 2010. I am concerned that this will p… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,757 satisfied customers
I am trying to buy some land to develop it, and the seller
I am trying to buy some land to develop it, and the seller is an individual who wants to sell the land to pay off his mortgage. I am wanting to purchase it with as little money down as possible, and h… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
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