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How can I pay back required minimum distribution money
how can I pay back required minimum distribution money already taken in 2020? … read more
RodneyT629
RodneyT629
CFO
MBA - Business
239 satisfied customers
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 eve… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
7,746 satisfied customers
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
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
7,746 satisfied customers
In Jan. 2019 the CARES ACT was enacted and the section
In Jan. 2019 the CARES ACT was enacted and the section entitled TEMPORARY WAIVER OF REQUIRED MINIMUM DISTRIBUTION expired 60 gays later. I took my MRD in January and the ACT says" the funds can be ret… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
20,865 satisfied customers
I was recently notified that required minimum distributions
I was recently notified that required minimum distributions could be waved for 2020. Unfortunately, that rmd was taken automatically from my retirement account by Vanguard, shortly after the first week in January so I'm past the 60 day period. My questions: Is there still any way to waive the rmd or am I now committed to accepting it as income on my 2020 tax return? … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
19,160 satisfied customers
I withdrew my RMD from my IRA on January 31, 2020. I think
I withdrew my RMD from my IRA on January 31, 2020. I think the IRS requirement to withdraw RMD's for 2020 has been waived. January withdrawals seem to be excluded and cannot be reversed. It seems to m… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
35,801 satisfied customers
I already took my RMD. With new stimulus rule I won't have
I already took my RMD. With new stimulus rule I won't have to take it for 2020. Can I put it back into my IRA so as not to have to pay taxes on the withdrawal? … read more
DK_CPA
DK_CPA
CPA
Master of Science in Accounting & Taxationb
2,382 satisfied customers
I had 13500 in my Roth IRA, 2500 of which had been
Hi! I had 13500 in my Roth IRA, 2500 of which had been contributed in 2019. In September 2019 I withdrew all of it. Am I allowed to put back in 6000 now to reach my contribution limit for 2019, or am … read more
Rick
Rick
MBA
3,366 satisfied customers
I am 75 and I am taking this year more money than the RMD
I am 75 and I am taking this year more money than the RMD from 401 k to cover increased medical expenses. I will be itemizing my deductions. If I take more money than the RMD, does the 60 day rule app… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
35,801 satisfied customers
Today I received a check for $20988.00 from the Kansas City
Today I received a check for $20988.00 from the Kansas City office of the Treasury. It identifies the reason as RMD from my TSP account. Unfortunately, I Used the IRS RMD work sheet to calculate my RM… read more
Alexander Efros
Alexander Efros
Financial Planner/Tax Specialist
Masters of Business Administration (MBA)
1,195 satisfied customers
I took out a loan on my 401k at my old job (to buy a house).
Hi I took out a loan on my 401k at my old job (to buy a house). I changed jobs in the past year and defaulted on that loan. Can i make a deposit into an IRA now to offset my tax liability on that amou… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
5,167 satisfied customers
My husband died Feb 2016 at age 78. He was taking RMDs from
my husband died Feb 2016 at age 78. He was taking RMDs from his employer's Money Pension Plan. I took his RMD at the end of 2016 as required by law. I was told by his employer that I did not need to d… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
7,746 satisfied customers
Have a 401k early withdrawal question? or questions? I have
have a 401k early withdrawal question? or questions? … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
20,865 satisfied customers
I will be in april. I will be 70 in april 2019 I will be 71
I will be 69 in april. I will be 70 in april 2019 I will be 71 in april 2020. I have ira account and about four 401 K accounts . Who determins what I am required to take out of either just IRA or IRA … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
35,801 satisfied customers
I borrowed money from my IRA and I don't to pay the taxes on
I borrowed money from my IRA and I don't to pay the taxes on the amount which is $20,000 so I put $6500 in as a 60 day rollover is that going to be ok? … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
5,167 satisfied customers
From my one IRA account i'v taken several distributions this
from my one IRA account i'v taken several distributions this year on different dates within the last 60 days, in july and august can i put money from different dates."… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
20,865 satisfied customers
i inadvertantly took two RMD frm my SEP IRA, since it's increased
i inadvertantly took two RMD frm my SEP IRA, since it's increased my taxes appreciably I'd like to know if I can "return" the $ to my IRA, and avoid the extra taxes (on my SS, too!)..… read more
CFEPro789
CFEPro789
Fraud Analyst
Master's Degree
369 satisfied customers
i took out an early disturbution from my ira an am not going
i took out an early disturbution from my ira an am not going to make the 60 day time fram ill be a couple days late what can i do to fix this an my annuity took out 1000 dollars for a loan payment an … read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
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