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Old 06-19-2005, 11:35 AM
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Join Date: Feb 2005
Posts: 11
Wink

money

What is the name of your state? new jeresy
I owe my daughter 30K which is coming from my ira. is their a benefit to any one of us if i transfer the money to my daughter or issue a promisary note and pay her with that mechanism?
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Old 06-20-2005, 09:32 AM
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Join Date: Aug 2003
Posts: 1,848
No. You will still be penalized 10% as well as taxed if you are under age 59.5.

Snipes
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This post does not create an agreement to represent you before the IRS, nor does it invoke confidentiality regulations. Postings are based only on the information provided and you should consult a tax professional in your area before relying on information contained in this post.
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