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The tax experts at J.K. Lasser have answered a lot of your tax preparation questions, ranging from 1040 filing, income tax deductions and credits, self-employment taxes to tax planning for college and retirement, estate and real estate taxes. Ask J.K. a question by filling out the form below. Or browse Ask J.K. answers or use the Search box to see if J.K. has already answered your question.
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Retirement

  1. I'm 72 years old. Is the tax break for transferring IRAs to charity available this year?Free
  2. I was laid off from my company last year. I was under 55 years old on my last day of work, but was 56 when I took a total distribution from the company's qualified retirement plan. Am I subject to the 10% early distribution penalty?Free
  3. I am 50 years old and have been unemployed for some time. Can I take money from my IRA without a penalty?Free
  4. I will be 70½ this year and am still working and contributing to a 403(b) plan. Can I wait until I retire to start taking minimum distributions?Free
  5. I have a loss in my Roth IRA. Can I deduct it?Free
  6. I'm 72 and still working. I forgot to take a required minimum distribution from my IRA for 2008. Am I subject to penalty?Free
  7. I'm 72 and need to take my required minimum distribution from my IRA by the end of this year. The value of my account is down dramatically. Is there anything I can do to reduce what I might otherwise have been required to withdraw?Free
  8. I had converted my regular IRA to a Roth IRA and paid tax on $25,000. The account is now worth $80,000 and I want to withdraw $20,000 to pay off my credit card debt. Is the withdrawal taxable to me?Free
  9. I am 65 years old. Can I use the money in my IRA to make my monthly mortgage payments?Free
  10. May a self-employed person with an SEP also establish another plan?Free
  11. What are the consequences for not taking the mandatory distribution from an IRA?Free
  12. I transferred stock from my IRA to my personal account. What are the characteristics of that stock — basis and time (short term, long term)?Free
  13. Is there is a limit on how much money I can put into an IRA. Is there a penalty if I "overinvest" in one year?Free
  14. If I am 73, can I withdraw all the funds in my traditional IRA without penalty?Free
  15. I've taken a real pounding in a small IRA that I have. Can I take a loss against regular income?Free
  16. How do I report a distribution from my IRA that has nondeductible and deductible contributions?Free
  17. I want to buy my first house. Can I use my IRA to help make the down payment?Free
  18. Am I subject to the 10% penalty for early IRA withdrawal even though totally disabled?Free