Posted by: mdubovick ®
12/28/2004, 23:01:35
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You are correct that withdrawing IRA funds prior to the age of 59 1/2 can be done without penalty IF you are disabled. Since you are currently "in your first appeal on your SSDI claim", you are not disabled YET. If and when you get approved as disabled, you will not require any special IRS form per se. To explain further - On Form 1040, Line 15A you would list the amount of your IRA Distribution (withdrawal). On Line 15B, you list the amount that is taxable. If you are judged to be disabled, on line 15B, you would enter -0-. If this is not clear, send a note to me - meldubovick@comcast.net
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Posted by: kitty ®
12/31/2004, 22:40:31
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I went back to my bank that holds my IRA and they spoke to my investment company for me. They stated that they only needed my signature on the withdrawal form. As far as satisfying the IRS they said a letter from my doctor stating my disability and the permanent nature of it should satisfy the IRS if they challanged the withdrawal. They said for their part my signature was all that is required (esentially taking my word for the disability). Besides the ABSD and the failure of all treatment options I have a number of other medical conditions which make it very difficult for me to find substantial work I can perform. I have a lot of neck pain from the muscle tension, severe headaches, and constant fatigue. I also have problems with my feet. My right foot was severely broken in a car accident which is now arthritic and my left heel was broken four years ago and went undiagnosed for 6 months. It did not heal properly and I have a heel spur and recently developed Morton's Neuroma in the left foot. I have been told by two doctors I have early signs of Fibromyalgia. I have bursitis in my hip and this year developed arthritis in my right hand (I think because writing and typing is my only means of communication for the last two years). I have been working a few hours as a bookeeper but it is becoming increasingly more difficult and besides having neck pain, and almost daily headaches I come home very fatigue every day. Even on the four days I have off I have the same symptoms, but I can rest when I need to. Because the Social Security process is so slow I decided to withdraw my IRA to pay off my house. My part time job pays very little and the stress and fatigue is adding to my medical problems. I have tried very hard to keep working because the part time job buys my groceries. I lost a good paying job in 2002 because my plant moved to Mexico. It took me 6 months to find the bookkeeping job, and my large medical bills have put a real strain on my budget. I am desperate for financial relief while I wait on Social Security to decide how disabled I have to be to qualify for benefits. Currently I cannot find a job that does not require me to talk, walk, stand, and allow me to rest when needed or to go home when my headaches are too bad. My current employer is a fellow high school classmate and she has a recliner in her TV store where I can rest when I need a break. She also lets me leave when I need to. But her patience is wearing thin and she has been wanting me to quit because I am unable to perform all my duties. I am supposed to answer her two phone lines, schedule jobs, sell satellites to customers and make collection calls, none of which I can do. It is only a matter of time before she will be forced to fire me. I am surprized it hasn't happened already. The most ironic thing is I went into the company 401K (which cut my retirement in half), I lost a lot of money in the stock market half of which was company stock that went from $70.00 down to as low at $17.00 and I could not sell until I retired after they announced the closure. I rolled it over into the IRA which would pay off all my bills, but I am only 54 and now I am disabled and can't find a job that will support me. Now I have to fight to proove that I am disabled. I wish I still had my voice because It would be much easier to continue working if I felt up to it. SD is a curse to many of us and it couldn't have come at a worse time for me just as I was looking forward to retirement. The town where I live has a 10% unemployment rate and it is continuing to rise as other factories and many business are in the process of closing. Finding a job is difficult at my age and nearly impossible with all my medical problems. I really wish that 2005 will bring me a new future of less pain and stress.
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Posted by: Renee ®
12/31/2004, 23:23:28
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WOW!!! That's some life story. I sure hope that you get disability. It sounds like you really deserve it. Fight the social security system until they give it to you. From what I understand, usually you will prevail...Renee ADSD/ Austin, TEXAS
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Posted by: Kitty ®
02/06/2005, 16:38:19
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I had to resign my part time job January 31,2005 due to pain, headaches and extreme fatigue. My doctor had been asking me to quit since October. I hired an attorney the next day to help me with the hearing before the Administrative Law Judge. I am just too exhausted to do all this on my own. Just doing the paper work is exhausting, even though that is what I have been doing for a living the last 37 years. I hope this is a better year for me.
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Posted by: snowie ®
01/01/2005, 05:51:38
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Hi Kitty,
It sounds like you are having a very tough time. I hope your appeal comes through which will help ease things abit for you.
Try to hang in there in your job, as its best not to be seen to quit, in my expereince social security goes in your favour if your are asked to leave your job rather than voluntarily leaving.Re: the fatigue and headaches, I have Ab Sd too, and get very very tired and also get a lot of headaches. I wonder if the tiredness is to do with Ab Sd, does any one out there know of any medical evidence that supports this ?... I work 4 days and am doing part-time study, and I am finding that I really am not managing. I am struggling to keep up with everything because of the constant tiredness, like you I find if I can rest when needed its not so bad. But at work, I have to talk all day long, and by the end of the day I'm really worn out.
I am trying to think of a way that I can cut down my hours and find another job to subsidise my income from home. If any one out there has any ideas, please let me know ??? ... I am only in my 30's and have a fair way to go yet ! ..so need to find alternative employment to keep me going ... I also need to find medical evidence about Ab Sd and fatigue so that I can make a case with the occupataional health doctor at work and my employer, as to why I need to adjust my work hours (I have asthma too which seems to compound the problems). If any one knows of any research that has been done on this I'd really appreciate hearing from you. I have thought about applying for disability in the UK, but I don't think I will qualify. There are 2 components here in UK, you are assessed on your ability to mobilise and your need for care. In my view I wouldn't qualify for either, as I can generally do both, it just takes me longer and I get worn out easier. And to be honest if I can find another way to cut down my hours and provide an incone for myself I would prefer that as my Sd is not severe, its just everything else that goes with it that is causing me problems. Thanks for listening to me, Wishing everyone many best wishes for the New Year, Snowie,
Ab Sd, London, UK
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Posted by: Valerie ®
03/08/2005, 10:22:12
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Snowie
I just went for a check up and they told me my chest X-ray was abnormal. I've never had an abnormal chest X-ray before/I don't smoke nor am I around smokers. They said I need a cat scan. Could be asthma or something related to emphyzema. Dr. said he couldn't tell without more tests. I'll keep you posted.
It's strange that you have something like this also.I have SD/ab
Good Luck,
Valerie
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Posted by: Valerie ®
03/08/2005, 09:34:57
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Kitty,
Thank you for the information about the IRA's. I didn't know about this. When I go to my accountant next weeks I'm going to ask.My question is who determines if we are disabled.
My battle with Social Security disability is just beginning. They say I'm not disabled so I had to get an attorney. My hearing is in May and I'll certainly post the results on the bb. My teaching career ended after 24 years when SD creped into my life. My $58,000 a year income disappeard. The state of Fla says they won't give me disability retirement, even though I'm 6 years short of full retirement. They want me to take regular retirement at at loss of $900 a month. Yet, my long term disability company says I'm disabled. It would certainly be great for us SD ers if all benefit institutions were somewhat on the same page.
Again, many thanks for IRA input.
Valerie
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