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Here's the situation. Client has a 401K loan where he still
For CarterHey- here's the situation. Client has a 401K loan where he still works that they took out in 2018. In 2020, the took an early distribution for $60K. A week after they got the $60K, they deci… read more
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Ms I was wondering if you were available and could answer a
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I have an issue with tax distribution from previous work,can
Hi ,I have an issue with tax distribution from previous work,can you help me? … read more
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How do I repay 401k loan that offset in 09/2020, with the
how do I repay 401k loan that offset in 09/2020, with the balance already being rollover to another institution? … read more
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I took out money from my retirement account this year and am
I took out money from my retirement account this year and am afraid if they add it to my total income that it will put me in a new tax bracket. Is this true? … read more
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I'm no longer employed, and I have a $33k 401k loan that
I'm no longer employed, and I have a $33k 401k loan that needs to be repaid. Since the loan was taken out prior to the exceptions created due to COVID-19 (e.g., the CARES Act), it is not covered. Sinc… read more
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I took a 401 loan in October of 2019 with the full intent of
I took a 401 loan in October of 2019 with the full intent of paying it off over 12-months in 2020. However my company shut down in December of 2019 but I continued to make payments into 2020 which pus… read more
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Last year I have a 401(k) with $50,000 of my money in it. I
Last year I have a 401(k) with $50,000 of my money in it. I took a $25,000 loan. The company I work for, I am out on disability, couldn't deduct the loan payment so I have not paid any towards the 401… read more
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I quit my job last week and joined another company, but I
I quit my job last week and joined another company, but I had a 401k loan with my old company. Fidelity, the 401k administrator, has sent a letter basically re-organizing my loan payment to monthly, i… read more
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Someone has code 1 for a 401K distribution but they are
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I am working on my son's tax return and I have a question.
I am working on my son's tax return and I have a question. My son left employment with the job he had had for 15 or years and took a job with USPS. He received 2 1099-R's from his former employee's 40… read more
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I had 401K on which I had a loan. Lets call it 401k_a. I
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I did a rollover from the 401k to the IRA for 50k. I purpose
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I took $50000. out of my 401k this year to pay for re doing
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I am a divorced mother of 3 children i have full custody. My
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I defaulted on my 401 K loan in 2007 and the balance of 11,000.00 was reported to the IRS and I had to pay income taxes + a penalty on it. However my employer says I still have to make payments to rep… read more
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