WE INHERITED $37000 IN THE FORM OF AN IRA. THE IRA WERE REDEMMED. HOW DO I ACCOUNT FOR THE MONEY ON THE TAX FORM. I KNOW THE MONEY IS INCOME ,BUT WHAT KIND OF INCOME
My mother passed away in April 2008. She left me her IRA (Inherited IRA), her home and its contents. My understanding is that my husband is not entitled to any portion of my inherited assets. He claims he is....
IRA rolled over with exwife as beneficiary.
Had an IRA with Lincoln Life, transferred one half with local bank & kept this as an Ira in the bank, the remaining one half I used as cash. I am 76 years old, does this disqualify me from using Ira deduction?...
My IRA Advisor said that my new Well is tax deductable. I took money out of my IRA to pay for this new Well. Is what he says true?
If i withdrew money from ira in a bank and open ira in b bank will i have to pay tax?do i have 60 days to deposit money in another bank?
I'm looking for my inheritance? My mother died 3 years ago and we couldn't find bank statements or life insurance could you hep me?
I will be receiving a substantial amount of money as an inheritance will I have to pay taxes on that money?
If I received an inheritance from a family member in another state. Taxes and fees were taken out before I received my share . Do I have to claim the amount on my income taxes?
Is my spouse entitled to a portion of my inheritance in the state of kansas if we divorce?
I had an IRA account transferred to me from my ex., (court ordered) I have requested that a portion of the funds be turned over to me @25,000, that was on 03/03/08, the company Lincoln Fidelity has yet to honor...
Can I use IRA distribution towards purchase of principal residence and have the interest earned deferred?
My wife has a new Simple IRA plan at work. We also have maximized a Roth IRA. We are each over 60 years old. What are her contribution limits with the rwo IRAs? Does contributing to one limit the contributions...
We received an inheritance of cash/check from the sale of our mother's farm land. The lawyer sent us a 1099-s showing the amount received. We thought this was a tax free inheritance. The estate was under 400,000.00....
Any advantage to dividend-producing, tax-free investment in an IRA (munis), that is already sheltered from taxes until distribution, or is the advantage for a taxable investment?
I placed $2,000 in an IRA several years age. It was losing money. In 2007 I withdrew the whoe balance of $1,300. How do I report the withdrawal and Loss on my tax return.
Can I deduct a 6 month IRA on my 2008 tax return for federal and state and if so, what is the maximum deduction for married filing jointly?
My husband and I moved our retirement money from previous employers into IRA CD's when we moved to a new state. We received statements from the banks with total amount interest earned on said accounts. Do we...
I withdrew money from my IRA during the month of July for a new home purchase. My consultant told me that since this purchase was for a first time purchase I would not be penalized. I informed my tax consultant...
My husband and I both cashed in a IRA. He is over 59. I am not. What forms do I need to fill out our income taxes.
If I took money from my IRA but then put it back in before sixty days, I understand that I do not have to pay taxes on that amount. What IRS form do I use to show that transaction?
What are the rules for converting a tradional ira into a stretch or inherted ira for grandchildren What is the amount that would have to be taken out for the minlinun distribution ? When the grandchildren...
My brothers and I received $60,000 from our parents, this money was to be our inheritance, but parents decided to give it to us now, so is this considered a gift, or inheritance and how much is taxable
I am from Minnesota and have a small inheritance from my step-fathers estate. One of his older brothers inherited everything and then divided it up. Is there an inheritance tax that I need to pay? Thank you,...
I am a recipient of an ira from my sister's will. She died. I would like to roll this over to an ira in my bank. Can this be done? Thanks. MPH
I have made an over contribution to my Ira in the amount of $7000.00. I need to figure out the gain or loss amount made on this amount, in order to move the money to another account. How do I go about doing this....
