Investment and Finance

Individuals aged 55 and over may contribute an additional $1,000 above the maximum for each tax year.

This tax penalty does not apply if the withdrawal is made after the date and you attain age 65 or become totally and permanently disabled or die.

Yes, having an HSA in no way restricts your ability to have an IRA.

You must be:1) Covered by qualified high deductible health insurance plan;2) Not covered under other health insurance;3) Not enrolled in Medicare; and 4) Not another person's dependent.
Other health insurance does not include coverage for the following: accidents, dental care, disability, long-term care, and vision care. Workers’ compensation, specified disease, and fixed indemnity coverage is permitted.

Cost basis is the value of an asset used to calculate capital gain or loss for tax purposes.
For most positions, cost basis is purchase price plus commissions plus disallowed wash sales plus reinvested capital during the time before the sale.

Losses from Wash Sales are disallowed by the IRS and the amount of the loss is added to the cost basis of the repurchased shares on a per share basis.
The holding period is also adjusted to include the days the security was held before the original sale.
When an investor sells shares at a loss and then repurchases substantially identical shares within 61-day window (30 days before and/or after the date of sale, it is called a wash sale.

No - there are no catch provisions. The limitations are the same. 25% of compensation but no more than $51,000.

Minimum distributions must be made by April 1 the year after the year you turn 70 and a half.
After the first distribution, minimum distributions must be made by December 31 each year.
Step 1 is to Access the proper life expectancy table. Life expectancy tables are in Appendix C of IRS PUBLICATION 590. Table 1 is for use by one beneficiary. Table 2 is for IRA owners whose spouse is more than 10 years younger than the owner and the spouse is the sole beneficiary. Table 3 is for anyone else.
Step 2 is to Find the appropriate life expectancy amount to determine distribution period.
Step 3 is to Divide the IRA account balance from December 31 of the prior year by the distribution period to calculate the minimum distribution for the period.

Liquidating distributions, sometimes called liquidating dividends, are distributions you receive during a partial or complete liquidation of a corporation.
These distributions are, at least in part, one form of a return of capital.
They may be paid in one or more installments.
You will receive Form 1099-DIV from the corporation showing you the amount of the liquidating distribution in box 8 or 9
When a liquidating dividend occurs, it is considered to be a return of capital and not profit.
If the distribution is more than your basis, you would have to report the difference as a capital gain. If the distribution is less than your basis, you may be able to claim a capital loss.