Retirement Withdrawals, Home Purchases and the 10% Early Withdrawal Penalty
If you take money out of a retirement account to buy a house (for example to make a down payment), you can avoid the 10% early withdrawal penalty … but only on IRA withdrawals. The rules on retirement withdrawals are tricky and vary between 401(k) accounts and IRAs. With home purchases, you can take money […]
Retirement Plan Rollover Q&A
Here’s a sample of questions my clients commonly have about retirement plan rollovers.
Glossary: Non-Deductible IRA Contributions
A non-deductible IRA contribution refers to money put into a traditional IRA, for which the taxpayer does NOT get a tax deduction.
How to Calculate an RMD
This post discusses how to calculate an RMD.
Glossary of Tax Terms: Roth IRA
This blog post defines what Roth IRA means
Glossary of Tax Terms: IRA
In the tax world, “IRA” stands for “individual retirement account.”
Same-Sex Marriage, IRAs and After-Tax Basis
How will couples in same-sex marriage handle prior-year differences in after-tax basis between federal and state taxes?
Taxability of IRAs; Reporting a 1099-K; Deductions for Payments to Consultants — Ask Jason
Have a tax question burning in your mind? E-mail me at dinesentax@gmail.com. (Ask Jason has been discontinued) DISCLAIMER: The answers to questions in this segment are intended to be general in nature and do NOT constitute tax advice. Please contact a tax advisor to discuss your unique situation. Q: My mother had an IRA […]
60 Days Means 60 Days, Not 90 Days, On IRA Rollovers
A taxpayer learned in Tax Court recently that the “60-day” requirement on tax-free rollovers from retirement accounts really does mean “60 days” and not “90 days.”
