There’s a lot going on in your 40s: raising a family, paying a mortgage, shuttling kids to and from activities, caring for ...

Made excess contributions to a retirement account, a health savings account (HSA), or ... Failure to use the form for the correct tax year may result in the penalty being applied to the wrong year. An ...

You might receive this document if you have freelance work, investment income, retirement distributions or other financial transactions.

The IRS views interest on a savings account as earned income, whether it's $1 or $1,000. So, if you received interest on a high-yield savings account in 2024, you need to report it when you file your ...

Any time that money comes your way you are probably tempted to spend it. After all, who doesn't love a windfall of cash when ...

You don’t have to have incurred the medical expenses in the same year you spend the money for the withdrawals to be tax-free, ...

Please write about the issues people can face when they have a reverse mortgage and need to move out to get long-term care.

Dear Liz: I’m on Medicare but I also have a health savings account with a fair market ... the account grows tax-deferred and withdrawals are tax-free for qualifying medical expenses.

The victims pulled money out of their retirement accounts. The withdrawals had inflated their taxable income, even though the ...

You’ll have to report all HSA distributions on tax form 1099-SA when you file your ... You’ll pay income taxes on the non-medical withdrawals, which is the same as you would with a 401(k).