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Nope. You'll owe immediate income tax on the cost of every share you take out. It would be great if you could take possession of just the gain and roll the cost into an IRA. But that's like splitting an atom--an unnatural divide with explosive consequences...
...whole lot of highly appreciated employer stock in their 401(k) plans, and 2) despite a fair amount of press, confusion reigns concerning an IRS rule that permits people who retire or switch jobs to take possession of their company stock rather than roll it into an IRA...
Taking possession of employer shares can cut your tax bill. When you eventually sell, the profit is taxed as a capital gain at 20% for most people. An IRA distribution, on the other hand, is taxed as income--at up to 39.6%. Basic math, gang. Here are questions from my mail and answers, with an assist from Ed Slott, editor of Ed Slott's IRA Advisor. Ed has more on his website at irahelp.com To read my earlier column, see time.com/personal...
...referred to the Aug. 1998 bombing in Omagh, which killed 29 people, and was conducted by the Real IRA, an IRA splinter group, which used IRA arms...
Currently, Unionist paramilitary groups have not decommissioned either, but Trimble said, they will turn in their arms in conjunction with the IRA...