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You are 62 yrs old and would like to cash in an IRA fbo Do you have to pay a penalty or taxes?
Wiki User
∙ 13y ago
Over the age of 59 1/2 you will not have to pay any 10 % early withdrawal penalty. The taxable amount of the distribution will be added to all of your other gross worldwide and subject to federal income tax on your 1040 income at your marginal tax rate and if your are drawing social security benefits from 50 % to 85 % of your SSB can also become taxable income at your marginal tax rate depending on $$$$$$ value of the amount of the IRA distribution amount.
Wiki User
∙ 13y ago
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Under what circumstances can you withdraw from a 401K without a penalty?
If you cannot get money from any other source and you need money for something like staving off foreclosure (financial hardship), you can withdraw money with no penalty. Taxes would be need to be paid and you can only withdraw the exact amount you need.
How can you cash your Life Insurance policy in with Royal Neighbors of America?
I would like to cash in my insurance
How much cash are you allowed to have at one time?
You are allowed to bring as much cash as you would like to carry into the United States, but any amount over 10,000 dollars must be declared. You can keep as much cash as you would like in your home.
I would like know how I can get money out of my annuity?
Ther is probably a penalty involved, but most annuities will allow you to draw 10-15% for emergency without penalty. You should ask your provider about this.
How does a cash annuity settlement work?
A cash annuity is usually work by the person receiving the annuity is getting a montly fund which can pre-taxed or you will have to take the taxes out every year. Many people do not like the monthly so they try to sell it order to get a lump sum.
Do you have to pay taxes on a house insurance pay out?
No. You are being reimbursed for a loss. It would be like if you lost your wallet and someone returned it, you don't pay taxes on the cash you got back.
What is cash profit?
cash gain,after adding back the nett profit(after deducting taxes)to the internally generated expenditure like depreciation and amortizatio. it is some times reffered as cash flow
Under what circumstances can you withdraw from a 401K without a penalty?
If you cannot get money from any other source and you need money for something like staving off foreclosure (financial hardship), you can withdraw money with no penalty. Taxes would be need to be paid and you can only withdraw the exact amount you need.
I WOULD LIKE TO NO HOW MUCH MY TAXES WOULD ON 12,000. PER YEAR NO TAXES HAVE BEEN WITHHELD FROM THAT?
I AM WAITING FOR AN ANSWER.
Is death penalty too harsh a penalty?
Depends on what you did. I honestly think that if you raped or killed someone, the death penalty wouldn't be too harsh. i agree with this how would you like it if someone killed your brother or something you would want pay back i kno i would
Is it a penalty for a defensive player to listen in on the offenses huddle by crossing the line of scrimmage?
That would be unsportsman like conduct, which is a 15 yard penalty.
You would like to give someone in need a cash gift can you claim it on your taxes at the end of the year as a chairtable gift?
No. Gifts or donations to any individual taxpayer is never deductible on your 1040 income tax return.
How can you cash your Life Insurance policy in with Royal Neighbors of America?
I would like to cash in my insurance
How much cash are you allowed to have at one time?
You are allowed to bring as much cash as you would like to carry into the United States, but any amount over 10,000 dollars must be declared. You can keep as much cash as you would like in your home.
I would like to find out if my taxes have been paid?
You can find out at irs.gov.
Can frequent flyer miles be redeemed for cash?
No, most airlines will not let you convert your frequent flyer miles into cash. This is because the airlines would like for you to fly with them again, and if they instead give you cash then you are able to spend it wherever you would like.
would like to consider refinance manufactured home with a cash out ?
yes
