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Amending tax return to report direct rollover from annuity to IRA?

03 Apr

I forgot to report a direct rollover (no tax liability, $0) on 16a of IRS Form 1040. Does anyone know how to amend the tax return to reflect this information? I don’t see a line for it on 1040x. Any advice is appreciated. Thanks.
Thanks so much for this response. Will do!

 
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how to calculate rate of return of annuity?

03 Apr

Paying some investment deposit at reaccural basis an getting return at the end how to spread that return over that investment.

 
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The Dawes Act attempted to help Native Americans by ….?

03 Apr

How would the Native Americans in the area be affected if the following scenario occurred? Paul Lyon was a trader in Minnesota in 1862 near the Dakota Sioux reservation. Like other traders in the area, he did not provide food or other goods on credit.
A. They would potentially starve because government payments they were supposed to receive did not come.
B. They would have to trade their horses in exchange for food needed for the tribe to survive.
C. They would need to sell what few possessions they had to settlers to buy food.
D. They would send tribal leaders to Washington D.C. to collect their annuities in person.

22. How did the arrival of American troops in the land where the Nez Perce lived affect the tribe?
A. It forced them to defend their land in the Battle at Wounded Knee.
B. They were relocated to a smaller reservation in Wyoming.
C. It caused them to leave their homes, traveling 1,300-miles before being forced to settle in Oklahoma.
D. The Nez Perce were protected by the troops from people who tried to settle on their lands.

23. How did gold mining and the arrival of prospectors in the Black Hills area affect the lives of the Lakota Sioux tribe?
A. Members of the tribe were paid to assist prospectors in locating mining sites.
B. Many in the tribe decided to leave the reservation to hunt in Montana.
C. The boomtowns brought prosperity to the tribe’s reservation.
D. Crime increased in the area, which included reservation lands.

24. What was one effect of western settlement on the lives of Native American tribes?
A. The tribes were welcomed in mining communities as a source of labor.
B. Buffalo began to disappear from the plains, depriving many tribes of their main source of food, shelter, and clothing.
C. Many tribe members were able to get jobs with the railroad companies to support their families.
D. Settlers were able to share modern farming practices with the tribes, helping them become self-sufficient.

25. The Dawes Act attempted to help Native Americans by
A. giving them land for farming.
B. returning them to their native lands.
C. reintroducing the buffalo to native lands.
D. sustaining their previous way of life.

 
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How to Get RICH Selling Insurance and Annuities to Women

03 Apr

Buy Cheap How to Get RICH Selling Insurance and Annuities to Women

 
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Business Finance help?

03 Apr

Mr. Rambo, President of Assault Weapons, Inc., was pleased to hear that he had three offers from major defense companies for his latest missile firing automatic ejector. He will use a discount rate of 12 percent to evaluate each offer.

Offer 1
$500,000 now plus $120,000 from the end of year 6 through 15. Also, if the product goes over $50 million in cumulative sales by the end of year 15, he will receive an additional $1,500,000. Rambo thought there was a 75% probability this would happen.

Offer 2
25% of the buyer’s gross margin for the next four years. The buyer in this case is Air Defense, Inc. (ADI). Its gross margin is 65%. Sales for year 1 are projected to be $1 million and then grow by 40% per year. This amount is paid today and is not discounted.

Offer 3
A trust fund would be set up for the next 9 years. At the end of that period, Rambo would receive the proceeds (and discount them back to the present at 12%). The trust fund called for semiannual payments for the next 9 years of $80,000 (a total of $160,000 per year). The payments would start immediately. Since the payments are coming at the beginning of each period instead of the end, this is an annuity due. To look up the future value of the annuity due in the tables, add 1 to n (18 + 1) and subtract 1 from the value in the table. Assume the annual interest rate on this annuity is 12% annually. Determine the present value of the trust fund’s final value.

Required:
Show work and find the present value of each of the three offers and then indicate which one has the highest present value.

 
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Can you get a little bit of money out of a structred settlement or do you have to get the lump sum?

03 Apr

What is the JG Wentworth and is it a stupid thing to deal with them?

 
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How will a 1099-R affect my taxes?

03 Apr

I quit my previous job and withdrawn my 401k.. 20% of the money was taken before i even got it… Now here comes tax time … How will the 1099-R affect my refund?? I really need the money and am worried they will take it all… HELP!!
Thanks

 
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What is a good mutual fund to start with?

02 Apr

I want to begin investing and I believe a mutual fund is my best option. Should I go with one that tracks the S&P or one like the Vanguard Total Global Market fund? So many to chose from but whats a good starting fund? I know most Vanguard funds are 2,500 to open and thats fine. And its wise to continue putting money into your fund over the years correct?

 
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Am I able to qualify for a deductible IRA if the only retirement plan my company offers is a 401K?

02 Apr

My question concerns only a fully deductible IRA, and the confusion over the IRS wording “to quality….you must not be eligible to participate in a company retirement plan”. My company does not offer a pension plan , but does offer a 401k plan, so does that disqualify me from a deductible IRA ? Basically the question comes down to the defination of a “company retirement plan”.

 
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How do you figure annuities with different interest periods and payment periods?

02 Apr

Say you want to have :

* $1,000,000 in 40 years (so FV=1,000,000).
* Bank pays 8% APR with quarterly compounding..
* Payments are made at the end of the periods.

How do you get this? Thanks!
Edit: Payments are made the end of periods.

 
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Annuity payment help?

02 Apr

I’m stuck on this question and can’t figure out the formula.. does anyone know how to calculate? Please help..

How much money must be deposited now, at 6% interest, compounded semiannually, to yield an annuity payment of $4000 at the beginning of each six-month period, for a total of five years?

Thanks!

 
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Sterling Silver Hand Painted Teal Ovarian Cancer or Missing Children Support Ribbon Buy to Donate

02 Apr

Buy Cheap Sterling Silver Hand Painted Teal Ovarian Cancer or Missing Children Support Ribbon Buy to Donate

 
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Move 401K to IRA a good move?

02 Apr

I have a lot of money in a 401K and am being advised to move it to an IRA. Would this be a good move?
I am retired and am no longer putting money into the 401K . I don’t need the money or interest from the money to live on, just want to get the best returns on my money.

 
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how to find interest rate using annuity formula?

02 Apr

using following Annuity formula

FV=PV*((((1+i/n)^n*y) -1)/(i/n))

how can you calculate interest rate i.

FV = Future value
PV = Present value
i = interest rate
n = number of periods in a year
y = number of years

 
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