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 41 contracts
Samples: Traditional Individual Retirement Custodial Account Agreement, Traditional Individual Retirement Custodial Account Agreement, Traditional 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 30 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 14 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