#118 - Q&A edition...Itemized sales tax deductions, pension vs lump sum, surviving spouse tax increases and MORE!
#118 - Q&A edition...Itemized sales tax deductions, pension vs lump sum, surviving spouse tax increases and MORE!  
Podcast: Retirement Planning Education, with Andy Panko
Published On: Thu Sep 26 2024
Description: Listener Q&A where Andy talks about: Itemizing sales taxes on Schedule A of your tax return, particularly when living in two states during the year ( 6:30 )Considerations when deciding between taking a pension or its lump sum ( 11:51 )Should a recently widowed person take advantage of their last year of Married Filing Joint tax brackets and do a large Roth conversion or IRA distribution ( 25:03 )Understanding the pro rata rule when doing a Roth conversion when you have multiple IRAs and a 401(k) ( 31:40 )How the IRS knows if you didn't take Required Minimum Distributions ("RMDs") when you were supposed to ( 37:02 )How to ensure your Treasury interest received (including when received indirectly through a money market mutual fund) is properly reported as tax-free on your state tax return ( 41:36 )To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.comLinks in this episode:IRS sales tax deduction calculator - hereRob Berger's YouTube channel - hereMy company newsletter - Retirement Planning InsightsFacebook group - Retirement Planning Education (formerly Taxes in Retirement)YouTube channel - Retirement Planning Education (formerly Retirement Planning Demystified)Retirement Planning Education website - www.RetirementPlanningEducation.com