Pledging. If you pledge any portion of your IRA as collateral for a loan, the amount so pledged will be treated as a distribution and will be included in your gross income for the taxable year in which you pledge the assets. If you designated your IRA as a Xxxx XXX, the amount pledged may be included in income if it represents a taxable portion of the account (i.e., earnings).
Appears in 58 contracts
Samples: Ira Prototype Plan Agreement, Ira Prototype Plan Agreement, Ira Prototype Plan Agreement
Pledging. If you pledge any portion of your IRA as collateral for a loan, the amount so pledged will be treated as a distribution and will be included in your gross income for the taxable year in which you pledge the assets. If you designated your IRA as a Xxxx XXX, the amount pledged may be included in income if it represents a taxable portion of the account (i.e., earnings)that year.
Appears in 37 contracts
Samples: Traditional Individual Retirement Custodial Account Agreement, Individual Retirement Custodial Account Agreement, Individual Retirement Custodial Account Agreement
Pledging. If you pledge any portion of your SIMPLE IRA as collateral for a loan, the amount so pledged will be treated as a distribution and will be included in your gross income for the taxable year in which you pledge the assets. If you designated your IRA as a Xxxx XXX, the amount pledged may be included in income if it represents a taxable portion of the account (i.e., earnings)that year.
Appears in 27 contracts
Samples: Simple Ira Custodial Account Agreement, Simple Ira Custodial Account Agreement, Simple Ira Custodial Account Adoption Agreement
Pledging. If you pledge any portion of your inherited IRA as collateral for a loan, the amount so pledged will be treated as a distribution and will be included in your gross income for the taxable year in which you pledge the assets. If you designated your IRA as a Xxxx XXX, the amount pledged may be included in income if it represents a taxable portion of the account (i.e., earnings)that year.
Appears in 13 contracts
Samples: Individual Retirement Custodial Account Agreement, Individual Retirement Custodial Account Agreement, Individual Retirement Custodial Account Agreement
Pledging. If you pledge any portion of your IRA as collateral for a loan, the amount so pledged will be treated as a distribution and will be included in your gross income for the taxable year in which you pledge the assets. If you designated your IRA as a Xxxx XXX, the amount pledged may will be included in income if it represents a taxable portion of the account (i.e., earnings).
Appears in 4 contracts
Samples: Ira Prototype Agreement and Disclosure Statement, Ira Prototype Agreement and Disclosure Statement, Ira Prototype Agreement
Pledging. If you pledge any portion of your IRA as collateral for a loan, the amount so pledged will be treated as a distribution and will be included in your gross income for the taxable year in which you pledge the assets. If you designated your IRA as a Xxxx XXX, the amount pledged may be included in income if it represents a taxable portion of the account (i.e., earnings).
Appears in 3 contracts
Samples: Traditional Individual Retirement Custodial Account Agreement, Simplified Employee Pension (Sep) Contribution Agreement, Traditional Individual Retirement Custodial Account Agreement
Pledging. If you pledge any portion of your IRA as collateral for a loan, the amount so pledged will be treated as a distribution distribution, and will be included in your gross income for the taxable year in which you pledge the assets. If you designated your IRA as a Xxxx XXX, the amount pledged may be included in income if it represents a taxable portion of the account (i.e., earnings).
Appears in 3 contracts
Samples: Traditional Individual Retirement Custodial Account Agreement, Custodial Agreement, Adoption Agreement
Pledging. If you pledge any portion of your SIMPLE IRA as collateral for a loan, the amount so pledged will be treated as a distribution distribution, and will be included in your gross income for the taxable year in which you pledge the assets. If you designated your IRA as a Xxxx XXX, the amount pledged may be included in income if it represents a taxable portion of the account (i.e., earnings).
Appears in 2 contracts
Pledging. If you pledge any portion of your IRA as collateral for a loan, the amount so pledged will be treated as a distribution and will be included in your gross income for the taxable year in which you pledge the assets. If you designated your IRA as a Xxxx XXX, the amount pledged may be included in income if it represents a taxable portion of the account (i.e., earnings).Federal Tax Penalties
Appears in 1 contract
Samples: Simplified Employee Pension (Sep) Individual Retirement Accounts Contribution Agreement
