0
Yes an IRA is a 100% cash convertible liquid asset since there is no mandatory withholding. If you can't repay your IRA account within 60 days, it may incur a tax liability which would need to be worked out with the IRS when you file. If you have to cash out an IRA to meet emergency expenses and can't pay your taxes, the IRS will usually work out a "payment plan" and charge you some interest. Not optimal but technically the asset is super liquid.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
Is a IRA a liquid asset?
Yes an IRA is a 100% cash convertible liquid asset since there is no mandatory withholding. If you can't repay your IRA account within 60 days, it may incur a tax liability which would need to be worked out with the IRS when you file. If you have to cash out an IRA to meet emergency expenses and can't pay your taxes, the IRS will usually work out a "payment plan" and charge you some interest. Not optimal but technically the asset is super liquid.
Is land a liquid or non liquid asset?
is land a liquid asset
Which is the least liquid asset?
inventory is our least liquid asset.
What is a liqued IRA?
is a liquid ira money available to you
Is mutual fund liquid asset?
Yes. open ended mutual funds can be considered liquid. You can convert it to cash within a couple of days.
Are IRA's and 401K's considered an asset when one applys for public assistance?
No
Is a IRA a liquid asset?
Yes an IRA is a 100% cash convertible liquid asset since there is no mandatory withholding. If you can't repay your IRA account within 60 days, it may incur a tax liability which would need to be worked out with the IRS when you file. If you have to cash out an IRA to meet emergency expenses and can't pay your taxes, the IRS will usually work out a "payment plan" and charge you some interest. Not optimal but technically the asset is super liquid.
Can a nc resident on social security disability with medicare and nc medicaid have an IRA?
IRA's are not an eligibility factor for Social Security or Medicare. However, they are considered an asset for Medicaid.
Is a car a liquid asset?
A liquid asset is cash or something that can be quickly converted into cash. A car is generally not considered a liquid asset. The reason for this is because it can take some time to sell a car in order to obtain cash.
Is land a liquid or non liquid asset?
is land a liquid asset
Are sundry debtors a liquid asset?
liquid asset
Which is the least liquid asset?
inventory is our least liquid asset.
Is an IRA a current asset?
Sure, why not. It is earned income.
What is a liqued IRA?
is a liquid ira money available to you
Is a fishing permit a non-liquid asset or liquid asset?
It is a non-liquid asset. It can not be traded or converted into currency. It is non-transferable and therefor non-liquid.
Is mutual fund liquid asset?
Yes. open ended mutual funds can be considered liquid. You can convert it to cash within a couple of days.
What is least liquid current asset?
The least liquid asset that most people have is their house.
