The show is a smart mix of humor and social commentary, and has had a diverse lineup of guest stars, including Colin Hay of Men at Work, Brendan Fraser, Dick Van Dyke and, in one of his...read more.
Traditional IRA distributions are taxable and, unless you're 59 1/2 years old, subject to an extra 10 percent tax penalty. However, if you qualify as a first-time home buyer, you avoid the additional tax, but not regular income taxes, on your distribution. For example, assume you're not yet 59 1/2 years old, that you pay a 25 percent tax rate and that you take a $10,000 distribution for your first home.
Instead, it will be reported on the 2014 Form 5498. (Box 10): Roth IRA contributions for tax year 2013 made in either 2013 or 2014. (Box 11): This box is checked if the account owner must take a Required Minimum Distribution (RMD) for 2014. This does not apply to Roth IRA and Beneficiary (or Inherited) IRA accounts.nstead, it will be reported on the 2014 Form 5498. (Box 10): Roth IRA contributions for tax year 2013 made in either 2013 or 2014. (Box 11): This box is checked if the account owner must take a Required Minimum Distribution (RMD) for 2014. This does not apply to Roth IRA and Beneficiary (or Inherited) IRA accounts.