Tax Court Provides Solution for Untracked Tax-Free IRA Balances : Using the Cohan Rule
Denise Appleby explains how to avoid double taxation of otherwise untracked basis in IRAs, using the Cohan Rule. IRA owners can find themselves paying income
IRA Distributions
Amounts are withdrawn from IRAs. Distributions are included in the recipient’s income unless properly rolled over
Explore
Menu
Read More »
New Rules For Correcting IRA Excess Contributions-Gary Lesser Explains
“The IRS, the Code, and regulations thereunder, have always been clear, at least until recently: an individual has up until his or her return deadline,
What is a Qualified HSA Funding Distribution (QHFD) ?
A Qualified HSA Funding Distribution (QHFD) , also referred to as: Qualified Funding Distribution (QFD) , HSA Funding Distribution (HFD),and Qualified health savings account (HSA) Funding
Do you qualify for the Qualified Individual-Coronavirus-Related Distribution? Learn if you do.
Qualified Individual- Coronavirus-Related Distribution A qualified individual is one who is eligible to take a coronavirus-related distribution, and maybe any of the following: An individual:
What is a Coronavirus related distribution?
A coronavirus related distribution (CRD) is one that is permitted to be taken by qualified individuals from January 1, 2020 and before December 31, 2020.
H.R.4907 – Grow Philanthropy Act of 2016 – to allow QCDs to Donor Advised Fund
114th CONGRESS2d Session H. R. 4907To amend the Internal Revenue Code of 1986 to allow tax-free distributions from individual retirement plans to donor-advised funds. IN
Early distribution penalty not deductible
Tax court says that 72(t) additional tax (early distribution penalty) is not deductible. T.C. Memo. 2016-15- Robert Leon Martin v. Commissioner
Qualified charitable distributions (QCD) Extended for 2014
QCD Extended under H.R. 5771: Tax Increase Prevention Act of 2014 (the 2014 “Tax Extenders” bill) extended the qualified charitable distributions (QCD) provision to December
Take RMD before Converting to Roth IRA
Only amounts that are rollover eligible can be converted or rolled over to a Roth IRA. Required minimum distribution (RMD) amounts are not rollover eligible.
Qualified Charitable Distributions Extended under the Fiscal Cliff Bill- H.R.8.
QCD Extended under “fiscal cliff bill”. H.R.8. American Taxpayer Relief Act of 2012 (the “fiscal cliff bill”) extended the qualified charitable distributions (QCD) provision to
