401ks & IRAs

More in 401ks & IRAs

Can I Contribute to My SEP IRA for a Previous Year?

ployers set up simplified employee pension individual retirement arrangements, or SEP IRAs, as a way to contribute to their employees' retirement savings. SEP IRAs can accept both employer contributions and employee contributions. The employer contributions are made with pre-tax ...

How to Report IRA Withdrawals on a Tax Return

y time you tap your individual retirement arrangement to get money out, you'll have to share the news with the Internal Revenue Service, even if you don't owe any taxes as a result. At the end of the year, you'll receive a Form 1099-R from your financial institution that gives ...

How to Transfer IRA Money to Another Institution Without Paying Taxes

ning an individual retirement account is not a static business. Monitoring the investments and keeping abreast of fees and other administrative factors help you ensure you maximize this tax-advantaged opportunity. If you learn of a more appropriate selection of funds for your ...

Can I Contribute to Someone Else's IRA?

e sooner you make contributions to an individual retirement arrangement, the longer the money can take advantage of tax-deferred growth within the account before you take it out at retirement. If you have extra money and want to contribute to another person's IRA, it is ...

How Much Tax Do You Pay on a Cashed Out 403(b)?

403(b) is a qualified group retirement plan that's similar to a 401(k) but offered by nonprofit organizations like churches and schools. If you work for this type of organization and participate in the plan, understanding the consequences of cashing out your account can help you ...

Can I Use a 403(b) Retirement for a Mortgage Down Payment?

raping together enough money for a home down payment can be challenging, especially if you're moving to a larger home or haven't built up much equity in your prior home. However, you might be able to tap your 403(b) plan for some of the money -- just don't expect any special tax ...

Can I Claim a Tax Deduction for Contributions by a Rollover to a Traditional IRA?

llover IRAs are for individuals who want to move their retirement savings out of a fund without incurring early-withdrawal penalties or paying income taxes. The IRS allows the money to be rolled into a traditional IRA from other IRAs, from an employer’s qualified ...

What Is the Q Code in the Roth IRA 1099?

en you take a distribution from your Roth IRA, you'll receive a Form 1099-R that documents the withdrawal for tax purposes. In box 7 of Form 1099-R, your bank reports the distribution code that tells the Internal Revenue Service the type of withdrawal you took. If your ...

The 60-Day Grace Period for Withdrawals From Retirement Accounts

you withdraw money from your retirement account but later decide you don't need the distribution, you might be able to put it back in your retirement account if you act fast enough through a rollover. The Internal Revenue Service calls the process of taking money out of a ...

Zacks Investment Research

is an A+ Rated BBB

Accredited Business.