Frequently asked questions for seniors


The list below addresses questions some seniors may have. This list will be updated in the future.

If your question is... Please see...
I entered into a reverse mortgage arrangement with my bank. Are the proceeds of this loan taxable to me? IRS Publication 936, Home Mortgage Interest Deduction
I exercised my right to receive life insurance distributions before death. Are these proceeds taxable? IRS Publication 554, Tax Guide for Seniors
I am over age 70 1/2. How do I determine the amount I must withdraw each year from my IRA and 401(k) accounts to avoid a penalty? Retirement plan FAQs
Where can I find about taking money out of my retirement plan early? Top 10 facts about taking early distributions from retirement plans