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I am inheriting funds from a cash balance plan and have
I am inheriting funds from a cash balance plan and have decided to roll a majority of the funds over to a traditional IRA. I plan to take out a portion of the funds to keep as cash. Should I withdraw … read more
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Robin D.
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Alex, I have another question for you. I inherited a
Hi Alex, I have another question for you. I inherited a decedent IRA in December 2019 and am being told by the person managing the fund that I will need to withdraw money from that IRA for both 2019 a… read more
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Robin D.
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Can you answer a question regarding CalPERS retired death
can you answer a question regarding CalPERS retired death benefits? I'm starting to get monthly payments and I'm trying to figure out if there is a way to invest them in some retirement account and/or… read more
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Lev
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If one was to will an IRA account to a survivor, would there
If one was to will an IRA account to a survivor, would there be an immediate tax requirement, or would the taxes be charge as the funds are with drawled? … read more
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How much does this service cost?? You are not sure of the
I am purchasing investment property and I was going to pay for it with proceeds from the sale of a home. The home is not going to be sold for at least six months. Because of that, I need to find funds to pay for this property. I have an IRA and a Roth IRA that have the funds to draw from. I am 59 YO and disabled. … read more
Barbara
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My minor son is the beneficiary of an annuity left by my
My minor son is the beneficiary of an annuity left by my deceased mother. The value of the annuity is approximately $14,000. Our intent is to roll that into a UTMA account. The distribution form is as… read more
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I am inheriting an IRA from my daughter. Can I transfer it
I am inheriting an IRA from my daughter. Can I transfer it to my IRA without having to cash it out?… read more
Lane
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2 questions. 1st: If I was left in a will funds in an IRA
2 questions. 1st: If I was left in a will funds in an IRA from my Mother, and I wish to transfer 50% of those funds to a sibling in an IRA in her name, will there be a tax or penalty? If so will it be… read more
Lev
Lev
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my ex-husband passed away and left his 401k earnings to my
my ex-husband passed away and left his 401k earnings to my 2 children. my 2 children are both special needs children and my attorney advised me to put the earnings in an inherited ira temporarily unti… read more
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I have inherited my mothers IRA account. My first question
I have inherited my mother's IRA account. My first question is at what age is a person eligible to use the money from an IRA account without having any income tax repercussions? and my second question… read more
Jax Tax
Jax Tax
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Im trying to determine if we owe back taxes and penalties
I'm trying to determine if we owe back taxes and penalties related to an IRA my wife inherited from her mother a few years ago. My wife was over 59.5 at the time. Should she have received an annual 10… read more
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In 2008 I received $147K IRA proceeds of a daughter who passed
In 2008 I received $147K IRA proceeds of a daughter who passed away. Instead of converting same to my IRA or a new IRA. My accountant added th $147K to my income. Thus adding approx $15K to our taxabl… read more
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I am the sole beneficiary of my sisters IRA account (she was
I am the sole beneficiary of my sister's IRA account (she was 67) and never married/no children. It has been suggested that I send in a Disclaimer as in 2518 of the IRS code. I know I would pay taxes … read more
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I have a client who recently inherited a traditional IRA from
I have a client who recently inherited a traditional IRA from her father. She is one of 5 siblings. She is in the middle, age-wise, at age 54. She received a check from the trustee for the total amoun… read more
Merlo
Merlo
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My dad passed away last month and had and IRA account. My
My dad passed away last month and had and IRA account. My portion of the account is approx. $ 46,000.00. The state of Pennsylvania has informed me that I need to pay them approx. $ 2,000.00 in state i… read more
Robin D.
Robin D.
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I have inherited $94,000 from my fathers Ira account... will
I have inherited $94,000 from my father's Ira account... will I have to pay federal and state taxes on it when I draw it down?… read more
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Upon losing our dad on May 1, my brother (who is mentally-disabled)
Upon losing our dad on May 1, my brother (who is mentally-disabled) and I inherited a significant amount of money from our dad's IRA. We have simply moved this money into a joint checking (non interes… read more
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I heard that if you cashed in an retirement from a deseaced
I heard that if you cashed in an retirement from a deseaced spouse , you can use the money to purchase a home without having to pay taxes on it. [email protected]… read more
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