Traditional IRA-to-Xxxx XXX Conversions. If you convert to a Xxxx XXX, the amount of the conversion from your Traditional IRA to your Xxxx XXX will be treated as a distribution for income tax purposes, and is includible in your gross income (except for any nondeductible contributions). Although the conversion amount generally is included in income, the 10 percent early distribution penalty tax will not apply to conversions from a Traditional IRA to a Xxxx XXX, regardless of whether you qualify for any exceptions to the 10 percent penalty tax. If you are age 70½ or older you must remove your required minimum distribution before converting your Traditional IRA.
Appears in 31 contracts
Samples: Individual Retirement Custodial Account Agreement, Individual Retirement Custodial Account Agreement, Client Agreement
Traditional IRA-to-Xxxx XXX Conversions. If you convert to a Xxxx XXX, the amount of the conversion from your Traditional IRA to your Xxxx XXX will be treated as a distribution for income tax purposes, and is includible in your gross income (except for any nondeductible contributions). Although the conversion amount generally is included in income, the 10 percent early distribution penalty tax will not apply to conversions from a Traditional IRA to a Xxxx XXX, regardless of whether you qualify for any exceptions to the 10 percent early distribution penalty tax. If you are age 70½ or older older, you must remove your required minimum distribution before converting your Traditional IRA.
Appears in 17 contracts
Samples: Ach Agreement, Ach Agreement, Ach Agreement
Traditional IRA-to-Xxxx XXX Conversions. If you convert to a Xxxx XXX, the amount of the conversion from your Traditional Tradi- tional IRA to your Xxxx XXX will be treated as a distribution for income tax purposes, and is includible in your gross income (except for any nondeductible contributions). Although the conversion amount generally is included in income, the 10 percent early distribution penalty tax will not apply to conversions from a Traditional IRA to a Xxxx XXX, regardless of whether you qualify for any exceptions to the 10 percent early distribution penalty tax. If you are age 70½ or older older, you must remove your required minimum distribution before converting your Traditional IRA.
Appears in 2 contracts
Samples: www.stifel.com, Stifel Account
Traditional IRA-to-Xxxx XXX Conversions. If you convert to a Xxxx XXX, the amount of the conversion from your Traditional IRA to your Xxxx XXX will be treated as a distribution for income tax purposes, and is includible in your gross income (except for any nondeductible contributions). Although the conversion amount generally is included in income, the 10 percent early distribution penalty tax will not apply to conversions from a Traditional IRA to a Xxxx XXX, regardless of whether you qualify for any exceptions to the 10 percent penalty tax. If you are age 70½ or older older, you must remove your required minimum distribution distribu- tion before converting your Traditional IRA.
Appears in 2 contracts
Samples: Stifel Account, Stifel Account
Traditional IRA-to-Xxxx XXX Conversions. If you convert to a Xxxx XXX, the amount of the conversion from your Traditional IRA to your Xxxx XXX will be treated as a distribution for income tax purposes, and is includible included in your gross income (except for any nondeductible contributions)income. Although the conversion amount is generally is included in income, the 10 percent early distribution penalty tax will shall not apply to conversions from a Traditional IRA to a Xxxx XXX, regardless of whether you qualify for any exceptions to the 10 percent penalty taxpenalty. If you are age 70½ or older required to take a required minimum distribution for the year, you must remove your required minimum distribution before converting your Traditional IRA.
Appears in 1 contract
Samples: Traditional Individual Retirement Custodial Agreement
Traditional IRA-to-Xxxx XXX Conversions. If you convert a Traditional IRA to a Xxxx XXX, the amount of the conversion from your Traditional IRA to your Xxxx XXX will shall be treated as a distribution for income tax purposes, purposes and is includible in your gross income (except for any nondeductible contributions). Although the conversion amount is generally is included in income, the 10 percent early distribution penalty tax will shall not apply to conversions from a Traditional IRA to a Xxxx XXX, regardless of whether you qualify for any exceptions to the 10 percent penalty taxpenalty. If you are age 70½ or older older, you must remove your required minimum distribution before prior to converting your Traditional IRA.
Appears in 1 contract
Samples: www.stratatrust.com
Traditional IRA-to-Xxxx XXX Conversions. If you convert to a Xxxx XXX, the amount of the conversion from your Traditional IRA to your Xxxx XXX will be treated as a distribution for income tax purposes, and is includible in your gross income (except for any nondeductible contributions). Although the conversion amount generally is included in income, the 10 percent early distribution penalty tax will not apply to conversions from a Traditional IRA to a Xxxx XXX, regardless of whether you qualify for any exceptions to the 10 percent penalty tax. If you are age 70½ or older older, you must remove your required minimum distribution before converting your Traditional IRA.
Appears in 1 contract
Samples: www.navyfederal.org
Traditional IRA-to-Xxxx XXX Conversions. If you convert to a Xxxx XXX, the amount of the conversion from your Traditional IRA to your Xxxx XXX will be treated as a distribution for income tax purposes, and is includible in your gross income (except for any nondeductible contributions). Although the conversion amount generally is included in income, the 10 percent early distribution penalty tax will not apply to conversions from a Traditional IRA to a Xxxx XXX, regardless of whether you qualify for any exceptions to the 10 percent penalty tax. If you are age 70½ 701⁄2 or older you must remove your required minimum distribution before converting your Traditional IRA.
Appears in 1 contract
Samples: 4kmc.com
Traditional IRA-to-Xxxx XXX Conversions. If you convert to a Xxxx XXX, the amount of the conversion from your Traditional IRA to your Xxxx XXX will be treated as a distribution for income tax purposes, and is includible in your gross income (except for any nondeductible contributions). Although the conversion amount generally is included in income, the 10 percent early distribution penalty tax will not apply to conversions from a Traditional IRA to a Xxxx XXX, regardless of whether you qualify for any exceptions to the 10 percent penalty tax. If you are age 70½ 72 or older older, you must remove your required minimum distribution before converting your Traditional IRA.
Appears in 1 contract
Samples: www.navyfederal.org
Traditional IRA-to-Xxxx XXX Conversions. If you convert to a Xxxx XXX, the amount of the conversion from your Traditional IRA to your Xxxx XXX will be treated as a distribution for income tax purposes, and is includible in your gross income (except for any nondeductible contributions). Although the conversion amount generally is included in income, the 10 percent early distribution penalty tax will not apply to conversions from a Traditional Tra- ditional IRA to a Xxxx XXX, regardless of whether you qualify for any exceptions to the 10 percent early distribution penalty tax. If you are age 70½ or older older, you must remove your required minimum distribution before converting your Traditional IRA.
Appears in 1 contract
Samples: Stifel Account
Traditional IRA-to-Xxxx XXX Conversions. If you convert to a Xxxx XXX, the amount of the conversion from your Traditional IRA to your Xxxx XXX will be treated as a distribution for income tax purposes, and is includible in your gross income (except for any nondeductible contributions). Although the conversion amount generally is included in income, the 10 percent early distribution penalty tax will not apply to conversions from a Traditional IRA to a Xxxx XXX, regardless of whether you qualify for any exceptions to the 10 percent early distribution penalty tax. If you are age 70½ 701⁄2 or older older, you must remove your required minimum distribution before converting your Traditional IRA.
Appears in 1 contract
Samples: 4kmc.com
Traditional IRA-to-Xxxx XXX Conversions. If you convert to a Xxxx XXX, the amount of the conversion from your Traditional Tradi- tional IRA to your Xxxx XXX will be treated as a distribution for income tax purposes, and is includible in your gross income (except for any nondeductible contributions). Although the conversion amount generally is included in income, the 10 percent early distribution penalty tax will not apply to conversions con- versions from a Traditional IRA to a Xxxx XXX, regardless of whether you qualify for any exceptions to the 10 percent penalty tax. If you are age 70½ or older older, you must remove your required minimum distribution before converting your Traditional IRA.
Appears in 1 contract
Samples: www.stifel.com