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HSA Contributions and IRA Rollovers: Today's Slott Report Mailbag

Question: I am over 70.5 and I have to take an IRA minimum distribution or else pay taxes and penalties on scheduled amount. My question is - can I take the mandatory distribution which I will pay taxes on anyway and then roll the distribution into my ROTH IRA? So far I have several YES and several NO answers. Your input would be the deciding vote for me. What say you?????? Thanks Jimmy Answer: Jimmy, As the deciding vote, we can say unequivocally that RMDs are not eligible for rollover to another IRA and are not eligible for conversion to a Roth IRA. Read More

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