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I need some help on how I should prepare and submit RMD to
I need some help on how I should prepare and submit RMD to my annuity administrator covering the past two (2) and the current year. This is my first time filing this form and on the form it suggest th… read more
Rick
Rick
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WE FAILED TOTAKE OUR 2018 MINIMUM REQUIRED DISTRUBTION FOR
wE FAILED TOTAKE OUR 2018 MINIMUM REQUIRED DISTRUBTION FOR OUR IRA'S BY DEC. 31ST 2018. WE DID TAKE THEM IN JAN. BUT W-4 WILL HAVE 2019 WITHDRAWAL. HOW DO WE CORRECT THIS, AND DO WE HAVE TO PAY 50% PE… read more
Tax.appeal.168
Tax.appeal.168
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I would like to enter an amount into my tax return that is
i would like to enter an amount into my tax return that is different than the 1099r amount. could you tell me where i can put an explanation for this please? do i need an irs form or whatever? Thanks … read more
Tax.appeal.168
Tax.appeal.168
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I was born July 1947 and I have an IRA account at Wells
I was born July 1947 and I have an IRA account at Wells Fargo with balance ~$100,000. I did not received any reminder about MRD (minimum required distribution) and I realized just now. Is it too late … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
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Payer for 1099-R RMD included both 2017 & 2018 RMD's on the
Payer for 1099-R RMD included both 2017 & 2018 RMD's on the 2018 1099-R form. The 2017 1099-R RMD was taken care of using form 4852 in the 2017 tax return. How do I refer to the 2017 form 4852 in 2018… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
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I made excess contributions to both my and my wife's ROTH
I made excess contributions to both my and my wife's ROTH IRAs in tax years 2013-2017. In 2018 before submitting my 2017 tax return I filed a 1097 with my IRA holder to remove both contributions and e… read more
Lev
Lev
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Bachelor's Degree Equivalent
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In 2004, taxpayer inherited an IRA. On some bad advice,
In 2004, taxpayer inherited an IRA. On some bad advice, since 2008, taxpayer failed to take the RMD each year for inherited IRAs. Taxpayer now wants to true up IRA and pay penalty for not taking RMD. … read more
Alexander Efros
Alexander Efros
Financial Planner/Tax Specialist
Masters of Business Administration (MBA)
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Lane, I have a client who has not taken the correct RMD
For Lane,Hi Lane,I have a client who has not taken the correct RMD since 2014. He is planning on making a catch up RMD distribution in 2018 for the amounts missed plus 2018. I am going to provide an e… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
16,402 satisfied customers
I was just online in the chat and got cut off so I do not
My name is***** I was just online in the chat and got cut off so I do not know if anything can be retrieved. I think I am still a member of Just Answer. … read more
Alexander Efros
Alexander Efros
Financial Planner/Tax Specialist
Masters of Business Administration (MBA)
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I neglected to get a retirement distribution from my Chase
I neglected to get a retirement distribution from my Chase retirement account IRAs (traditional - 2 CDs together value about $20000) since 2014 when I became 70-1/2. I went to them this afternoon, and… read more
Robin D.
Robin D.
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Vocational, Technical or Trade School
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If you have a scheduled reporting by a bank foe rmd and bank
if you have a scheduled reporting by a bank foe rmd and bank forgets to follow the set schedule and does not include a 1099r form to irs how to correct the problem… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
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I have a tax problem regarding my first two required minimum
I have a tax problem regarding my first two required minimum distributions (RMDs) from a beneficiary IRA. 2014 was the first year we were supposed to take a distribution. Towards the end of December, … read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
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Hi, I have a friend who is above 70 years old. They took
Hi, I have a friend who is above 70 years old. They took out their RMD requirement from a regular IRA in 2011, infact, they took out more than the RMD, and they did it in November of 2011. They forgot… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
40,360 satisfied customers
Client forgot to have RMD for IRA for 2012. The Ira company
Client forgot to have RMD for IRA for 2012. The Ira company says the client must withdraw the RMD by 12-31-12, is this correct? What happens if client does not w/d RMD? Thank you, Fred… read more
Lev
Lev
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Bachelor's Degree Equivalent
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I withdrew substantially less than my IRA RMD for 2012. I pland
I withdrew substantially less than my IRA RMD for 2012. I pland to wtihdraw the required amount before submitting my 1040. I will request a waiver of the 50% excise tax on underwithdrawal using Form 5… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
16,402 satisfied customers
Due to a mix up in accounts, I have not taken money from my
Due to a mix up in accounts, I have not taken money from my IRA in the year 2010, 2011. I am now 72 AND should have done so. The account is not an annunity as it was being treated but an IRA. What sho… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
16,402 satisfied customers
I worked with Lev in early December. He advised me about the
I worked with Lev in early December. He advised me about the forms and additional information I needed to send to the IRS. He said to take my time before replying again. I have a question related to h… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
40,360 satisfied customers
Missed withdraing RMDs in 2008. What one should do to correct
Missed withdraing RMD's in 2008. What one should do to correct the problem without incurring heavy penalty?… read more
Merlo
Merlo
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