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Thread: One CATCH a day.....
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08-20-2019, 02:15 AM #2281Biệt Thự
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CCG ơi , HELP
Sydney có câu hỏi về tax :
Bạn Sydney tính lấy tiền IRA để save vào 1 chỗ , but he dùng từ sai nên họ withhold tax rồi send him cái check 70,850
Tax withhold 17,000
giờ he muốn rollover into an IRA account thì phải làm sao ?
Can he deposit 87,850 vào IRA account rồi khi làm thuế lấy lại tiền thuế (17,000) không ?
hay phải làm sao ?Last edited by Sydney; 08-20-2019 at 02:18 AM.
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08-20-2019, 02:44 AM #2282HeaWeaSUNHawk
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HI Sis.
Originally Posted by Sydney
He can take the check to the new IRA acct - office and ask them first, they may have a way to help him...
However DO NOT deposit the $$$ into his personal ck/sav accts. Take it and hand it over to another IRA bank/investment institution.
He shoulda let them xfer funds... I always tell my clients : don't touch it...Last edited by CCG; 08-20-2019 at 02:52 AM.
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08-20-2019, 02:52 AM #2283Biệt Thự
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còn số tiền tax withhold 17000 thì sao ?
có cần lấy tiền bù vào rồi deposit vào IRA account không ?
nếu không rollover số tiền 17000 đó thì khi khai thuế làm sao lấy lại số tiền đó ?
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08-20-2019, 02:55 AM #2284Biệt Thự
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Originally Posted by CCG
He hỏi rồi , mà vì distribution check nên họ không có câu trả lời
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08-20-2019, 03:06 AM #2285HeaWeaSUNHawk
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Yes he can do that...
If a distribution from an IRA or a retirement plan is paid directly to you, you can deposit all or a portion of it in an IRA or a retirement plan within 60 days. Taxes will be withheld from a distribution from a retirement plan , so you’ll have to use other funds to roll over the full amount of the distribution.
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08-20-2019, 03:44 AM #2286Biệt Thự
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Sydney mới kiếm thấy cái này
https://www.irs.gov/retirement-plans...-distributions
60-day rollover – If a distribution from an IRA or a retirement plan is paid directly to you, you can deposit all or a portion of it in an IRA or a retirement plan within 60 days. Taxes will be withheld from a distribution from a retirement plan (see below), so you’ll have to use other funds to roll over the full amount of the distribution.
Vậy là bây giờ he có thể lấy tiền túi bỏ vào, rồi cuối năm lấy lại thuế (17,000) phải không sis ?Last edited by Sydney; 08-20-2019 at 03:48 AM.
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08-20-2019, 03:49 AM #2287HeaWeaSUNHawk
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Đúng rồi áh sis.... he phai? bù vô cho đủ.... rồi claim his refund later...
Make sure that he makes copies of everything cuz I am sure he will get a letter from the IRS - just to confirm....
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08-20-2019, 04:12 AM #2288Biệt Thự
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Originally Posted by CCG
Thanks sis
Letter from IRS về cái gì ? Tax withhold ?Last edited by Sydney; 08-20-2019 at 04:14 AM.
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08-20-2019, 04:20 AM #2289HeaWeaSUNHawk
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The Old IRA Firm will send him a 1099R to report the dístribution as Taxable & the 17K tãx withholding with CODE 1....
His accountant will have to MARK the box as CODE Q ( I think ) for Rollover to avoid paying taxes ...
He will need copy of confirmation that he did roll over within 60 days...
Yes he will get a letter from the IRS regarding the deposit to the new IRA acct for the full amount...
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08-20-2019, 04:44 AM #2290Biệt Thự
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Thanks sis Originally Posted by CCG
The Old IRA Firm will send him a 1099R to report the dístribution as Taxable & the 17K tãx withholding with CODE 1....
His accountant will have to MARK the box as CODE Q ( I think ) for Rollover to avoid paying taxes ...
He will need copy of confirmation that he did roll over within 60 days...
Yes he will get a letter from the IRS regarding the deposit to the new IRA acct for the full amount...
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