Q:
I
have a question about an IRA split
between my husband and me. I got half
of his
retirement IRA, and I was wondering if
I am responsible for the taxes if I was
to withdraw the funds. Also, if I
didn't want all the funds in the
account before I opened it, could I
tell the custodian to give me a portion
and put the rest in? If I could, would
I be charged a penalty of
10%?
Answer
Q:
I
turn 70 ½ this year and my last day of
work was September 30, 2019. Am I
required
to take an RMD from my work profit
sharing 401(k) plan by April of 2020
and, if so, is the RMD calculated on
the 12/31/18 account balance?
Answer
Q:
I
was wondering, will incorrect information
on a Beneficiary Designation form cause it
to be invalid? I see forms
with a wrong or missing date of birth, or
ones listing more than one beneficiary,
each assigned 100%.
Answer
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