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IRA ? Taxes ? Income ?

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evafla
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IRA ? Taxes ? Income ?  Reply with quote  

Please I need help !

I am already in retirenment age (almost 66) , and I am totaly lost .
I am a woman , and single .

I am still receiving modest alimony , which soon are going to be reduced if not eliminated .( my ex is going to be retired soon )

I took small , early social security for, 3 years now .


My taxes on alimony and ss benefits were about 600 dollars .

Now , because my private situation changed , I got extra "income" .
I put income in "" , because it is really small .

It is the rental income from apartment , which such apartment was returned to me .

With income benefits come property taxes , huge, and association fees,
bagatela 6000 a year .

Even with above deductions , income from renting puts me in another taxes

bracket, and my taxes are going to be about 4000 !

I am devastated .

I have 401 based on QDRO , which I just keep "there" , and was planning to start

to cash after 70 .

I am reading about IRAs accounts , but this is way to difficult for me

without help .

Tax deductable IRA contribution, would safe for me more than 1000 dollars in taxes this year , and every year till I still have alimony, 2 or 3 years , maybe .
This would be a fortune for me , but I really do not know how to approach this problem .

I live in small south american country and travel to US is out of reach for me
( I have dogs)

How to do it at all , open IRA , with whom, contribute money , rollover 401 , part of it ? And how to do it on Internet , can good soul help please ?

regards eva



Post Thu Mar 09, 2017 3:12 am
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Petert0204
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Location: Ludlow
Retirement Planning  Reply with quote  

You can approach LUSO Federal Credit Union and talk to them about your queries. I think that because they are a not-for-profit credit union, they can have many advantages for you. Idea
Post Fri Mar 31, 2017 5:26 am
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