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 ▇▇▇▇ ▇▇▇, the amount pledged may be included in income if it represents a taxable portion of the account (i.e., earnings).
Appears in 58 contracts
Sources: Ira Prototype Plan Agreement, Ira Prototype Plan Agreement, Ira Kit 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 ▇▇▇▇ ▇▇▇, the amount pledged may be included in income if it represents a taxable portion of the account (i.e., earnings)that year.
Appears in 46 contracts
Sources: Traditional Individual Retirement Custodial Account Agreement, Traditional Individual Retirement Custodial Account Agreement, Traditional Ira Custodial 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 ▇▇▇▇ ▇▇▇, the amount pledged may be included in income if it represents a taxable portion of the account (i.e., earnings)that year.
Appears in 32 contracts
Sources: Simple Ira Custodial Account Agreement, Simple Individual Retirement Custodial Account Agreement, Simple 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 ▇▇▇▇ ▇▇▇, 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
Sources: Ira Prototype Agreement and Disclosure Statement, Ira Prototype Agreement and Disclosure Statement, Ira Prototype 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 ▇▇▇▇ ▇▇▇, 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 ▇▇▇▇ ▇▇▇, 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
Sources: Simplified Employee Pension (Sep) Individual Retirement Accounts Contribution Agreement