UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev Thread | Next Thread
Author: RSering One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75402  
Subject: What to do then and now Date: 8/23/1999 10:01 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
I am a healthy number of years ahead of retirement, but I am trying to prepare for the inevitable. I don't really know what tax-related requirements I will need to fulfil when I do eventually start cleaning out our IRA and 401(k) accounts for retirement. Can anyone suggest a book or books that I can get to tell me a)what actions I should be taking now and b)what documentation I need to have, if any, to satisfy tax requirements then?
Print the post Back To Top
Author: slwjpw Three stars, 500 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 13359 of 75402
Subject: Re: What to do then and now Date: 8/23/1999 12:46 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Go to the bottom of your screen and click the *Retirement Planning link.

Phil

Print the post Back To Top
Author: RSering One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 13407 of 75402
Subject: Re: What to do then and now Date: 8/24/1999 11:51 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Yes, I did. It's good stuff, and I learned a thing or three about planning and strategy from it. But it doesn't tell me what documentation, if any, I need to squirrel away, whether I can claim losses, if any, on stocks sold within an IRA, that sort of stuff.

Thanks, though. Anyone else have any suggestions?

Print the post Back To Top
Author: BGauer Three stars, 500 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 13499 of 75402
Subject: Re: What to do then and now Date: 8/26/1999 6:21 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Losses and gains within an IRA "don't matter". When you withdraw the money, it is considered ordinary income, unless it's in a Roth IRA established more than five years ago, in which case it is tax-free income.

There is an IRS form (sorry, I forget the number) that you file each year showing your contributions for the year, and your basis (tax-paid contributions total). KEEP these forms. Gains/Losses are not reported.

Hope this helps!

BGauer


Print the post Back To Top
UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev Thread | Next Thread
Advertisement