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 56 contracts
Samples: Prototype Plan Agreement, secure.alpsinc.com, lightstonecapitalmarkets.com
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 33 contracts
Samples: Individual Retirement Custodial Account Agreement, Individual Retirement Trust Account Agreement, Individual Retirement Trust 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 24 contracts
Samples: Custodial Account Adoption Agreement, Custodial Account Adoption Agreement, services.federatedhermes.com
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, Adoption 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: cdn.cocodoc.com, Combined Listed, www.firsttrustretirement.com
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 2 contracts
Samples: www.navyfederal.org, Traditional Individual Retirement Custodial 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 2 contracts
Samples: Traditional Individual Retirement Custodial Agreement, Custodial 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).Federal Tax Penalties
Appears in 1 contract
Samples: www.navyfederal.org
