Inherited IRA and closed the account- How do I know if I took out the right amount of taxes? - inherited ira rules
I live in Ohio. I inherited an IRA in 2006. I closed my account ($ 25,000) and asked for the correct amount of taxes not to take (in time to beat, appropriate fiscal and) could recover the money. I was told I had to tell you how much I wanted (was)%. Now I'm waiting to have a good job to exaggerate, but I'm afraid. I had gotten to 30%. Then subtract $ 7,500 to $ 25,000. How do I do? (Gezzz hate tax time.) In addition, Turbo Tax Information accept such a thing? Or maybe, if I am a person with knowledge of the taxes?
Friday, January 15, 2010
Inherited Ira Rules Inherited IRA And Closed The Account- How Do I Know If I Took Out The Right Amount Of Taxes?
5 comments:
I can not answer, just because I know the rest of your tax situation. They are well done in most cases, with 30% less than their taxable income over $ 320,000 to.
On the basis of information it seems that you forget to state income tax, so that you may owe something to his statement, OH. If you have more you pay the federal government and is due to OH I suggest that you state your file as soon as possible, to receive a refund, and then pay OH.
Since it is paying an inherited IRA must pay taxes, but make sure that does not calculate 10% penalty for early withdrawal penalty is that it is not inherited for the withdrawal of the IRA.
Turbo Tax should be able to solve this transaction without any problems, because it is not unusual.
Good luck!
in both directions could have enough paid, or you have to work, but not in any way, you know what or who should or that you owe them, but still good luck
in both directions could have enough paid, or you have to work, but not in any way, you know what or who should or that you owe them, but still good luck
It is easier to see whether they come from anger on the kind of anger that can sometimes not be withdrawn until the age of 65 escape, because he is a IRA.
Depending on your age, what he can with the money, and various other factors, you will be responsible not only for the income tax, but also a penalty of 10% on the retreat.
The good thing is usually rolled into the account and an IRA special day for you. The withdrawal amount is not subject to the penalty is a factor of age.
It can not be deducted at source has enough!
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