Identity Theft, Spousal Benefits, RMD Taxes, IRA Withdrawals, and 401(k) Contribution Limits: Q&A #2513

March 29, 2025

Identity Theft, Spousal Benefits, RMD Taxes, IRA Withdrawals, and 401(k) Contribution Limits: Q&A #2513

Jim and Chris discuss listener questions relating to spousal Social Security benefits, RMD tax withholding, IRA withdrawals, and 401(k) contribution limits. Jim also shares a PSA about a recent attempt at identity theft.

(20:15) Jim shares a PSA about a fraudulent payday loan application attempted in his name and what he learned about credit freezes and loan monitoring.

(30:15) George asks whether his wife will be subject to the earnings test if she retires mid-year and starts claiming Social Security benefits in the same year.

(39:15) George asks whether tax withheld from his RMD can satisfy IRS requirements for avoiding quarterly estimated taxes.

(47:30) A listener wonders whether taking cash from two small IRAs will result in capital gains taxes.

(1:03:00) Jim and Chris weigh in on a question about the total 401(k) contribution limit for those over age 50.

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