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I have an IRA and have taken 3 distributions in 2020 - one
Second opinion] I have an IRA and have taken 3 distributions in 2020 - one in each of Jan, Feb and Mar. The CARES act removed RMDs for 2020. Can I redeposit all three distribution back into my IRA and… read more
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If a husband and wife each have an IRA, can the wife take a
if a husband and wife each have an IRA, can the wife take a withdraw up to $100,000 and not pay it back for 3 years because she was affected by Covid-19? Also, can the husband take out $100,000 and pa… read more
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Bill
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On march 5 this year I decided to do an indirect rollover to
Hi there. On march 5 this year I decided to do an indirect rollover to help with covid19 things. My 401k rollover is due to my new 401k holder May 5. My question is, with the care act, do I get any ty… read more
Robin D.
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I have an IRA with. I have a 401k profit sharing account
I have an IRA with ***** *****. I have a 401k profit sharing account with Meadowbrook TPA/Ameritrust which is where I last worked. I left this company Dec 2017 due to company buyout and my department … read more
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I have read that you can only do only one 60 day rollover
I have read that you can only do only one 60 day rollover from your IRA account within a one year time frame (365 days from the time a rollover was done). My question pertains to 401-K plans. Can you … read more
Lev
Lev
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Bachelor's Degree Equivalent
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How can I report a partial return ( rollover) of an IRA
Hi how can I report a partial return ( rollover) of an IRA distribution taken in 2017, got an early distribution and returned some of the funds to the original IRA, 1099R shows the whole distribution,… read more
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I did a rollover from the 401k to the IRA for 50k. I purpose
I did a rollover from the 401k to the IRA for 50k. I purpose to withdraw another 50k from the 401k to pay the first 50k back within 60 days. Thus giving myself 120 days to complete a transaction.… read more
Mark Taylor
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Took out $10,000 from IRA time Home owner reasons. Received
Took out $10,000 from IRA for First time Home owner reasons. Received $7,000, $3,000 w/h for taxes, now want to put the $7,000 back into IRA as the purchase of first time home fell thru. How do I resu… read more
Angie
Angie
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I took a hardship withdraw from my 401k to get my house out
I took a hardship withdraw from my 401k to get my house out of foreclosure after I received the money I changed my mind and asked my 401k company if I could put the money back in they said no because … read more
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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
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I am looking to use the 60-day rollover grace for an
I am looking to use the 60-day rollover grace period for an IRA to take a short-term loan. I am interested in the specifics of how the "once per year" provision works.… read more
Robin D.
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If a person has an IRA, how many pre-mature distributions can
If a person has an IRA, how many pre-mature distributions can her/she take if each pre-mature distribution is deposited into another IRA account or the same IRA within 45 days?… read more
FredStevens
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I had an IRA rolled over from the state of Florida into a personal
I had an IRA rolled over from the state of Florida into a personal mutual fund IRA with USAA bank. I have taken 4 withdrawals in 3 weeks and planned to put each withdrawal back within the 60 day time … read more
Lev
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Bachelor's Degree Equivalent
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my parents inadvertantly executed 2 ira rollovers within 1
my parents inadvertantly executed 2 ira rollovers within 1 year. although they were comleted within the 60 day window the fact that there were 2 seems to be a violation. Will the irs work with them on… read more
Robin D.
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Hi, I wanted to take a distribution from my rollover IRA. I
Hi, I wanted to take a distribution from my rollover IRA. I understand that as long as the amount is returned to the same IRA within 60 days there are no tax implications ( other than noting it where … read more
JKCPA
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question. May an individually now borrow from an IRA and with
question. May an individually now borrow from an IRA and with repayment back of the loan within a short term period w/ interest and avoid any taxability of the use of the funds? My understanding is th… read more
Merlo
Merlo
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Can I contribute a portion of the 401K MRD, mistakenly taken
Can I contribute a portion of the 401K MRD, mistakenly taken in early '09, as a rollover to my IRA; it's been over 60 days since 1/1/10 of course, and I'm 75 years old?… read more
Merlo
Merlo
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A person can avoid penalties in an IRA if they repay
A person can avoid penalties in an IRA if they repay withdrawalls within 60 days. Do 401-K's have the same rules. I want to use the money for a downpayment on a house and hope to be able to repay back… read more
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