| Recent Answers from Helen P. O`Planick, EA |
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2008-11-30 roth conversion with trad ira that has some cost basis: Yes, you only pay tax on the before tax dollars and appreciation. The aftertax dollars are not taxed again. Form 8606 will work it out for you. But if you have 2 IRAs, you cannot just use the basis...
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2008-11-20 capitol gains on Vanguard Health Care: The fund has paid the gain, so no, there is nothing you can really do. But long term gains are taxed at 0% so you will save a little there. The down side is a portion of your SS is going to be taxable...
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2008-11-15 Roth Early withdrawl for Home Purchase: It is much cleaner to come to the closing table with the IRA money or a strong agreement with Jenny's dad signed by you both that he is just advancing you the 10K. The only tax that would be due is...
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2008-11-15 Roth Early withdrawl for Home Purchase: As long as you spend (out of your pocket) the 10K, then you can pull it out of your ROTH and pay back her dad. But you cannot use the 10K for refinancing. It has to be acquisition debt. 401K withdrawals...
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2008-11-13 Capital Gains on House Sale: The answer is not going to make me popular, but they have until the end of this month to sell to exclude the gain. They made the new house their residence. One of them can move back in and live there...
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