Annuity ,maturing soon. Can I transfer the money to an IRA? - matures index of
I have an S & P 500 index annuity due soon. When
Elderly can transfer the money to avoid renting to other non-retirement account to pay taxes?
Saturday, December 19, 2009
Matures Index Of Annuity ,maturing Soon. Can I Transfer The Money To An IRA?
4 comments:
Depends. There are two types of income: skilled and unskilled labor. A qualified pension can be transferred to an IRA. The pension is not (unskilled because they used taxpayer money to, to) the pension fund. Its profit and loss account, whether it is "qualified" or "unqualified".
If not eligible, you can use Section 1035, to transfer to another non-qualified pension. Thus the taxes (and penalties will move), otherwise if you only pay the pensions and took the money. Good luck.
Jim Kirby, CPA
Ask your landlord is the rent in force, extend, or in exchange for 1035th This section of the IRS Code allows a tax deferred exchange of an existing pension to another pension.
I am sure that the company pension more than happy to be a 1035 change would account for you.
However, you can not transfer a pension is no longer an IRA or another eligible retirement plan into an IRA.
You can not avoid paying taxes on income, you have to pay taxes while you take the pension payments. The rest of the rent tax is distributed to.
Depends. There are two types of income: skilled and unskilled labor. A qualified pension can be transferred to an IRA. The pension is not (unskilled because they used taxpayer money to, to) the pension fund. Its profit and loss account, whether it is "qualified" or "unqualified".
If not eligible, you can use Section 1035, to transfer to another non-qualified pension. Thus the taxes (and penalties will move), otherwise if you only pay the pensions and took the money. Good luck.
Jim Kirby, CPA
Ask your landlord is the rent in force, extend, or in exchange for 1035th This section of the IRS Code allows a tax deferred exchange of an existing pension to another pension.
I am sure that the company pension more than happy to be a 1035 change would account for you.
However, you can not transfer a pension is no longer an IRA or another eligible retirement plan into an IRA.
You can not avoid paying taxes on income, you have to pay taxes while you take the pension payments. The rest of the rent tax is distributed to.
Post a Comment