Is income generated by 401k subject to taxes?

Answer The distributions from 401k plans, including earnings on the contributions, must be reported as taxable income when you file your taxes. If you take a distribution before turning age 59 1/2, you wi... Read More »

Top Q&A For: Is income generated by 401k subject to taxes

How much income is generated from cigarette taxes in Minnesota?

Minnesota generated $572 million in fiscal year 2010 in state excise taxes and legal settlements related to tobacco, according to Campaign for Tobacco-Free Kids. The state charges a cigarette excis... Read More »

How much income is generated from cigarette taxes for states?

The amount of revenue generated from cigarettes taxes in the states varies from year to year. As of the 2010, the last verifiable statistics are for 2007, in which the states collected $15,834,746,... Read More »

What Is the Minimum Amount of Income That Is Not Subject to US Taxes?

The IRS allows each taxpayer to receive a certain level of income during each tax year that is not subject to U.S. taxes. There is no minimum amount you must earn to receive this tax-free benefit; ... Read More »

Do I have to pay taxes if I have a 401k& roll it into an IRA?

You do not have to pay any taxes if you roll funds from a 401k plan into a traditional IRA because both accounts offer tax-deferred savings. However, if you roll the money into a Roth IRA, you do h... Read More »