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Question: Help with fafsa questions?
I am doing the parents income estimator. I have no problem getting the income information from my father but would like to know what these questions mean.
it ask for the amount of Wages, salaries, tips, etc.
also,
IRS-allowable adjustments to income (payment to IRA and Keogh Plans, one half of self employment [...]
The 401k early withdrawal penaltyIf you withdraw money from your 401k retirement plan before your reach the age of 59 and 1/2 years, you will have to pay a penalty on the taxable amount, which is known as 401k early withdrawal penalty. You will also have to pay income tax on the “early withdrawal” amount [...]
Question: Accounting question dealing with buying a house and cashing out an IRA.?
I have a traditional IRA with $10,119 in it and I would like to withdraw this money to buy my first house. According to the IRS website, I can take an early withdrawal of up to $10,000 for a first house without [...]
Question: can I return my RMD without a penalty in 2009?
IRS suspended RMDs for 2009. I read that we could return the distribution to the mutual fund company, etc. and they would deposit in the IRA with no penalty. Is this true?
Answer: Check with your custodian. If it’s been more than 60 days, [...]
Question: Tax question– I withdrew funds from a Roth IRA (before the 5 yr mark) to make a down payment as a first time?
home buyer, in 2005. I am many years less than 59. My “advisors” had not informed me that this sort of early withdrawal is only tax exempt if it is [...]
Tags: 401k, 72t, ira, IRS, irs early withdrawal penalty exceptions, irs early withdrawal penalty ira, Tax
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