Payments Annuity » from http://paymentsannuity.com Sell Annuity Payments Fri, 02 Apr 2010 23:52:18 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 Amending tax return to report direct rollover from annuity to IRA? http://paymentsannuity.com/amending-tax-return-to-report-direct-rollover-from-annuity-to-ira http://paymentsannuity.com/amending-tax-return-to-report-direct-rollover-from-annuity-to-ira#comments Fri, 02 Apr 2010 23:52:18 +0000 Editor http://paymentsannuity.com/amending-tax-return-to-report-direct-rollover-from-annuity-to-ira 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!

]]> http://paymentsannuity.com/amending-tax-return-to-report-direct-rollover-from-annuity-to-ira/feed 1 When should I start withdrawing funds from my TSP account? http://paymentsannuity.com/when-should-i-start-withdrawing-funds-from-my-tsp-account http://paymentsannuity.com/when-should-i-start-withdrawing-funds-from-my-tsp-account#comments Fri, 02 Apr 2010 02:21:39 +0000 Editor http://paymentsannuity.com/when-should-i-start-withdrawing-funds-from-my-tsp-account I know that at age 70 1/2, it is mandatory that TSP funds be withdrawn (assuming you live that long). I am trying to determine by age, when would be the best time to start having my funds withdrawn. I know you have to be 59 1/2 to avoid the extra penalty when you withdraw. I am 59. Would you wait until you were 62 or 65 (when medicare kicks in)? I haven’t decided whether to have the payments doled out in a monthly annuity (taxes would be cheaper) or have the whole amount sent to me and the money placed elsewhere. If you were in my shoes what would you do? I also own my home which may be sold in the near future when I can’t handle it anymore and need to downsize. Just looking for opinions as I know I have to make the ultimate decision. Just want to see if I am not leaving anything out. Thank you
I am retired.
With a government pension.

]]> http://paymentsannuity.com/when-should-i-start-withdrawing-funds-from-my-tsp-account/feed 1 How much does the IRS withhold from lottery winnings? http://paymentsannuity.com/how-much-does-the-irs-withhold-from-lottery-winnings http://paymentsannuity.com/how-much-does-the-irs-withhold-from-lottery-winnings#comments Thu, 01 Apr 2010 17:52:32 +0000 Editor http://paymentsannuity.com/how-much-does-the-irs-withhold-from-lottery-winnings Example: Let’s say the mega millions is 50 million. Whats the dollar difference in annuity and cash. I’m in NJ so I don’t think there is state tax due herefor lootery winnings

]]> http://paymentsannuity.com/how-much-does-the-irs-withhold-from-lottery-winnings/feed 7 Is now a bad time to move my 401k from my old employer to an IRA? http://paymentsannuity.com/is-now-a-bad-time-to-move-my-401k-from-my-old-employer-to-an-ira http://paymentsannuity.com/is-now-a-bad-time-to-move-my-401k-from-my-old-employer-to-an-ira#comments Wed, 31 Mar 2010 14:53:28 +0000 Editor http://paymentsannuity.com/is-now-a-bad-time-to-move-my-401k-from-my-old-employer-to-an-ira Should I wait until things move up? My account performance is -41% YTD.
I am 22 in age. I had above $6000 earlier in the year and am now down to $4300.

My statement lists
50% Regular Stock Funds
28% International Stock Funds
22% Barclays LifePath 2040
Then breaks it down further.

]]> http://paymentsannuity.com/is-now-a-bad-time-to-move-my-401k-from-my-old-employer-to-an-ira/feed 1 If my recieves a 1099-r for money she gets from her divorced husband, who is retired, but she is not, does sh http://paymentsannuity.com/if-my-recieves-a-1099-r-for-money-she-gets-from-her-divorced-husband-who-is-retired-but-she-is-not-does-sh http://paymentsannuity.com/if-my-recieves-a-1099-r-for-money-she-gets-from-her-divorced-husband-who-is-retired-but-she-is-not-does-sh#comments Mon, 29 Mar 2010 19:52:06 +0000 Editor http://paymentsannuity.com/if-my-recieves-a-1099-r-for-money-she-gets-from-her-divorced-husband-who-is-retired-but-she-is-not-does-sh If my mom recieves a 1099-r for money she gets from her divorced husband, who is retired, but she is not can she claim the retirement income credit on her state tax?

]]> http://paymentsannuity.com/if-my-recieves-a-1099-r-for-money-she-gets-from-her-divorced-husband-who-is-retired-but-she-is-not-does-sh/feed 1 How long would it take to get from Wentworth Avenue,Sydney to The Sydney Harbor Bridge? http://paymentsannuity.com/how-long-would-it-take-to-get-from-wentworth-avenuesydney-to-the-sydney-harbor-bridge http://paymentsannuity.com/how-long-would-it-take-to-get-from-wentworth-avenuesydney-to-the-sydney-harbor-bridge#comments Sun, 28 Mar 2010 21:21:11 +0000 Editor http://paymentsannuity.com/how-long-would-it-take-to-get-from-wentworth-avenuesydney-to-the-sydney-harbor-bridge Could you walk it?

]]> http://paymentsannuity.com/how-long-would-it-take-to-get-from-wentworth-avenuesydney-to-the-sydney-harbor-bridge/feed 3 Can I move my 401K money into Roth IRA after I got laid off from my company ? http://paymentsannuity.com/can-i-move-my-401k-money-into-roth-ira-after-i-got-laid-off-from-my-company http://paymentsannuity.com/can-i-move-my-401k-money-into-roth-ira-after-i-got-laid-off-from-my-company#comments Sat, 27 Mar 2010 11:52:11 +0000 Editor http://paymentsannuity.com/can-i-move-my-401k-money-into-roth-ira-after-i-got-laid-off-from-my-company I’m 57 year old and have 1 Million Dollars in my 401K with my current company. My job will be terminated at the end of this year 2008. Can I move money out of my company 401K account into a new Roth IRA account with a Discount Brokerage Firm ? If I can do that, what is the tax consequences ?

]]> http://paymentsannuity.com/can-i-move-my-401k-money-into-roth-ira-after-i-got-laid-off-from-my-company/feed 4 Is the distribution from an annuity fully taxable? http://paymentsannuity.com/is-the-distribution-from-an-annuity-fully-taxable http://paymentsannuity.com/is-the-distribution-from-an-annuity-fully-taxable#comments Fri, 26 Mar 2010 11:53:40 +0000 Editor http://paymentsannuity.com/is-the-distribution-from-an-annuity-fully-taxable A relative had purchased an annuity for me years ago, which was payable upon her death. I was instructed to cash in the annuity, which I did. Is the annuity fully taxable as income on my IRS return? Is the gross distribution listed in box 1 added to my income, and therefore fully taxable? Or do I list the amount in box 2a (taxable amount) as income, making the distribution only partially taxable?

]]> http://paymentsannuity.com/is-the-distribution-from-an-annuity-fully-taxable/feed 3 How much child support can I get from the unemployed father of my son? http://paymentsannuity.com/how-much-child-support-can-i-get-from-the-unemployed-father-of-my-son http://paymentsannuity.com/how-much-child-support-can-i-get-from-the-unemployed-father-of-my-son#comments Thu, 25 Mar 2010 20:53:05 +0000 Editor http://paymentsannuity.com/how-much-child-support-can-i-get-from-the-unemployed-father-of-my-son After 7 months of my sons fathers lack of helping I decided to get the law involved and make him pay child support. The problem is.. He don’t have a job and don’t want a job. He is fine with his mommy paying for everything he needs. I know im entitled to child support but how am I supposed to get anything when he is to lazy to get a job?

]]> http://paymentsannuity.com/how-much-child-support-can-i-get-from-the-unemployed-father-of-my-son/feed 8 We receive a check (1099-r) from an IRA which is in my mom’s trust. How do we pay taxes on this? http://paymentsannuity.com/we-receive-a-check-1099-r-from-an-ira-which-is-in-my-moms-trust-how-do-we-pay-taxes-on-this http://paymentsannuity.com/we-receive-a-check-1099-r-from-an-ira-which-is-in-my-moms-trust-how-do-we-pay-taxes-on-this#comments Wed, 24 Mar 2010 11:52:41 +0000 Editor http://paymentsannuity.com/we-receive-a-check-1099-r-from-an-ira-which-is-in-my-moms-trust-how-do-we-pay-taxes-on-this My mom’s estate (401K) makes an annual contribution to a BrightStar account we’ve set up for the kids. The money that went into the 401K is untaxed. Obviously, we must pay taxes on this.
I received a 1099-R from the trust. It appears we should complete a form 5329 – but in reading the instructions, 5329 does not seem to include this scenario. Would it be easier if I just add the 1099R to all my other 1099s and just report it as income?

]]> http://paymentsannuity.com/we-receive-a-check-1099-r-from-an-ira-which-is-in-my-moms-trust-how-do-we-pay-taxes-on-this/feed 3 What is the present value of a five-year annuity; with the first $3,000 payment being made three months from? http://paymentsannuity.com/what-is-the-present-value-of-a-five-year-annuity-with-the-first-3000-payment-being-made-three-months-from http://paymentsannuity.com/what-is-the-present-value-of-a-five-year-annuity-with-the-first-3000-payment-being-made-three-months-from#comments Tue, 23 Mar 2010 11:21:26 +0000 Editor http://paymentsannuity.com/what-is-the-present-value-of-a-five-year-annuity-with-the-first-3000-payment-being-made-three-months-from What is the present value of a five-year annuity; with the first $3,000 payment being made three months from today, if the required return is 7% EAR? How can I calculate can you show?

]]> http://paymentsannuity.com/what-is-the-present-value-of-a-five-year-annuity-with-the-first-3000-payment-being-made-three-months-from/feed 1 Is social security number required or checked by retirement plan companies from work? http://paymentsannuity.com/is-social-security-number-required-or-checked-by-retirement-plan-companies-from-work http://paymentsannuity.com/is-social-security-number-required-or-checked-by-retirement-plan-companies-from-work#comments Mon, 22 Mar 2010 17:22:11 +0000 Editor http://paymentsannuity.com/is-social-security-number-required-or-checked-by-retirement-plan-companies-from-work I am very curious to know if whenever you apply at work for your retirement plan, does your ssn checked or verified in order for them to estanlish the plan? I need to know bc this had been spinning in my head and i do not want to ask any employer for it, bc its not me with the problem, i do have my ssn. Does anybody know any of this info?

]]> http://paymentsannuity.com/is-social-security-number-required-or-checked-by-retirement-plan-companies-from-work/feed 1 How can I move my 401k money from my employer without leaving my job? http://paymentsannuity.com/how-can-i-move-my-401k-money-from-my-employer-without-leaving-my-job http://paymentsannuity.com/how-can-i-move-my-401k-money-from-my-employer-without-leaving-my-job#comments Sun, 21 Mar 2010 23:52:10 +0000 Editor http://paymentsannuity.com/how-can-i-move-my-401k-money-from-my-employer-without-leaving-my-job My employer does not contribute to my 401k. I want to move my money without penalty to another financial institution.

]]> http://paymentsannuity.com/how-can-i-move-my-401k-money-from-my-employer-without-leaving-my-job/feed 4 court ordered 35K from tax def annuity for son for college All is being taxed Any way around tax income ave? http://paymentsannuity.com/court-ordered-35k-from-tax-def-annuity-for-son-for-college-all-is-being-taxed-any-way-around-tax-income-ave http://paymentsannuity.com/court-ordered-35k-from-tax-def-annuity-for-son-for-college-all-is-being-taxed-any-way-around-tax-income-ave#comments Sat, 20 Mar 2010 05:52:06 +0000 Editor http://paymentsannuity.com/court-ordered-35k-from-tax-def-annuity-for-son-for-college-all-is-being-taxed-any-way-around-tax-income-ave I was ordered by family court to put $35K into a trust fund for my son in 2006. I had to take it from my tax deferred annuity. The money is for secondary education, but if not used for this, still passes to him with trustee approval for its reasonable use. I am on SSDI. Because of this one time court ordered funding, not only the 35K is being taxed, but so is my 2006 SSDI. I used Turbo Tax and owe a lot of taxes(Fed+State). Is there any way this tax due can be spread over years, such as income averaging? Does averaging even still exist in tax law?

]]> http://paymentsannuity.com/court-ordered-35k-from-tax-def-annuity-for-son-for-college-all-is-being-taxed-any-way-around-tax-income-ave/feed 2 i have an annuity from a car accident that i contacted jg wentworth to sell. i am going to court next wk? http://paymentsannuity.com/i-have-an-annuity-from-a-car-accident-that-i-contacted-jg-wentworth-to-sell-i-am-going-to-court-next-wk http://paymentsannuity.com/i-have-an-annuity-from-a-car-accident-that-i-contacted-jg-wentworth-to-sell-i-am-going-to-court-next-wk#comments Fri, 19 Mar 2010 17:52:14 +0000 Editor http://paymentsannuity.com/i-have-an-annuity-from-a-car-accident-that-i-contacted-jg-wentworth-to-sell-i-am-going-to-court-next-wk and they told me once the judge approves it ill have the money in 5 days. now im reading online that they rip people off, what di i do?? or are they just talking about not paying much for the note?

]]> http://paymentsannuity.com/i-have-an-annuity-from-a-car-accident-that-i-contacted-jg-wentworth-to-sell-i-am-going-to-court-next-wk/feed 3 Can I move 401k investment from the US to Canada? http://paymentsannuity.com/can-i-move-401k-investment-from-the-us-to-canada http://paymentsannuity.com/can-i-move-401k-investment-from-the-us-to-canada#comments Fri, 19 Mar 2010 05:53:47 +0000 Editor http://paymentsannuity.com/can-i-move-401k-investment-from-the-us-to-canada I used to live in the US but moved back to Canada in the last year. What to do with my former US employer pension plan?

]]> http://paymentsannuity.com/can-i-move-401k-investment-from-the-us-to-canada/feed 1 Why is it a bad idea to move 401K funds from S & Bs into secure 401K $ accounts until the botttom is reached? http://paymentsannuity.com/why-is-it-a-bad-idea-to-move-401k-funds-from-s-bs-into-secure-401k-accounts-until-the-botttom-is-reached http://paymentsannuity.com/why-is-it-a-bad-idea-to-move-401k-funds-from-s-bs-into-secure-401k-accounts-until-the-botttom-is-reached#comments Wed, 17 Mar 2010 20:55:19 +0000 Editor http://paymentsannuity.com/why-is-it-a-bad-idea-to-move-401k-funds-from-s-bs-into-secure-401k-accounts-until-the-botttom-is-reached I am 48 & still contributing to my 401K, but putting new contributions into cash accounts. I haven’t touched my old accounts though.

]]> http://paymentsannuity.com/why-is-it-a-bad-idea-to-move-401k-funds-from-s-bs-into-secure-401k-accounts-until-the-botttom-is-reached/feed 2 What to know when buying an annuity from the owner? http://paymentsannuity.com/what-to-know-when-buying-an-annuity-from-the-owner http://paymentsannuity.com/what-to-know-when-buying-an-annuity-from-the-owner#comments Wed, 17 Mar 2010 08:20:58 +0000 Editor http://paymentsannuity.com/what-to-know-when-buying-an-annuity-from-the-owner I found someone who wants to sell his annuity contract for cash now in exchange for assignment of the remaining payments. It seems like a good deal, but I really don’t know how to evaluate it and determine the risk. What questions should I ask and what paperwork do I need? Also, what fees should I expect? Thank you!
To add to the complexity, I am interested in purchasing the annuity with my self-directed IRA which is the type that allows you to invest in non-traditional investments, like real estate, tax liens, private placements, mortgages, notes, etc.
The annuity is with Mutual of Omaha.
Ruby – if I proceed it will be to have the annuity contract assigned to my IRA which will receive the annuity payments. This way I still have to meet the age requirements for taking distributions. So no, I’m not able to get the money directly as I am not 59 1/2.

]]> http://paymentsannuity.com/what-to-know-when-buying-an-annuity-from-the-owner/feed 3 Where to move 401k away from stock market? http://paymentsannuity.com/where-to-move-401k-away-from-stock-market http://paymentsannuity.com/where-to-move-401k-away-from-stock-market#comments Tue, 16 Mar 2010 11:54:54 +0000 Editor http://paymentsannuity.com/where-to-move-401k-away-from-stock-market I am pretty disgusted with the stock market now. I see that every time it takes a huge plunge, they seem to base it on “worries” or “fears.” The $12,000 401k I put into an IRA last year is now at about $9500. If/when things recover enough to get the balance up to where it was, where would be a good place to move it to? Gold, or real estate, or ??
Basically I am having trouble trusting my 401k to a market run by paranoid emotions.

]]> http://paymentsannuity.com/where-to-move-401k-away-from-stock-market/feed 5 Is Dana White of the UFC really scheduled to fight that Todd Wentworth guy from YouTube? Can any MMA fan help? http://paymentsannuity.com/is-dana-white-of-the-ufc-really-scheduled-to-fight-that-todd-wentworth-guy-from-youtube-can-any-mma-fan-help http://paymentsannuity.com/is-dana-white-of-the-ufc-really-scheduled-to-fight-that-todd-wentworth-guy-from-youtube-can-any-mma-fan-help#comments Mon, 15 Mar 2010 23:21:12 +0000 Editor http://paymentsannuity.com/is-dana-white-of-the-ufc-really-scheduled-to-fight-that-todd-wentworth-guy-from-youtube-can-any-mma-fan-help I’ve been hearing off and on rumors about Dana White finally getting into the cage, and people are saying he’s supposed to fight Todd Wentworth the MMA guy from YouTube.

If they’re fighting is it going to be WEC or UFC?

]]> http://paymentsannuity.com/is-dana-white-of-the-ufc-really-scheduled-to-fight-that-todd-wentworth-guy-from-youtube-can-any-mma-fan-help/feed 8 I received an annuity payment from a law suit, do I have to report it and do I pay taxes? http://paymentsannuity.com/i-received-an-annuity-payment-from-a-law-suit-do-i-have-to-report-it-and-do-i-pay-taxes http://paymentsannuity.com/i-received-an-annuity-payment-from-a-law-suit-do-i-have-to-report-it-and-do-i-pay-taxes#comments Mon, 15 Mar 2010 08:21:43 +0000 Editor http://paymentsannuity.com/i-received-an-annuity-payment-from-a-law-suit-do-i-have-to-report-it-and-do-i-pay-taxes The lawsuit was actually a settelment from a car crash I was involved in, the length of the annuity contract was 10 years.

]]> http://paymentsannuity.com/i-received-an-annuity-payment-from-a-law-suit-do-i-have-to-report-it-and-do-i-pay-taxes/feed 3 I am considering the Wentworth House in Rockville MD and am wondering if noise from freight train is a problem? http://paymentsannuity.com/i-am-considering-the-wentworth-house-in-rockville-md-and-am-wondering-if-noise-from-freight-train-is-a-problem http://paymentsannuity.com/i-am-considering-the-wentworth-house-in-rockville-md-and-am-wondering-if-noise-from-freight-train-is-a-problem#comments Sun, 14 Mar 2010 16:26:01 +0000 Editor http://paymentsannuity.com/i-am-considering-the-wentworth-house-in-rockville-md-and-am-wondering-if-noise-from-freight-train-is-a-problem The apartment complex is the Wentworth House with the Harris Teeter grocery store. The unit we are considering is on the south side of the building. Any input about the complex will be much appreciated.

]]> http://paymentsannuity.com/i-am-considering-the-wentworth-house-in-rockville-md-and-am-wondering-if-noise-from-freight-train-is-a-problem/feed 1 How does a variable rate annuity differ from a fixed annuity? http://paymentsannuity.com/how-does-a-variable-rate-annuity-differ-from-a-fixed-annuity http://paymentsannuity.com/how-does-a-variable-rate-annuity-differ-from-a-fixed-annuity#comments Sat, 13 Mar 2010 03:23:34 +0000 Editor http://paymentsannuity.com/how-does-a-variable-rate-annuity-differ-from-a-fixed-annuity I was advised that a fixed rate was a better option. Is that true, and why?

]]> http://paymentsannuity.com/how-does-a-variable-rate-annuity-differ-from-a-fixed-annuity/feed 2