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Volume 6 Number 11





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QUESTION OF THE MONTH

What Happens If My Sister Disclaims Her Portion of My Mother's IRA?

Q: My mom recently passed away and she had an IRA on which myself, my brother and my sister are named as equal beneficiaries. For reasons I won't get in to, my sister is considering disclaiming her portion. If she does so, would her portion then be split equally between me and my brother? Answer

NOVEMBER KEY FOCUS

IRS Releases Updated Form For Claiming The Saver's Tax Credit

The IRS released the 2013 version of IRS Form 8880: Credit for Qualified Retirement Savings Contributions. The form is used to claim a federal income tax credit, known as the "saver's credit," if you make IRA contributions or certain salary deferral contributions to your company's retirement plan. Read More

RULING TO REMEMBER

Waiving the 60-Day Rollover Requirement

In this month's Ruling to Remember, we look at Private Letter Ruling 201339002, wherein a Taxpayer we will call Sue claimed that her old financial institution never adequately explained the 60-day rollover rule, costing her the ability to roll it over to a new IRA at a new financial institution. Read More

INSIDE ED SLOTT'S IRA ADVISOR NEWSLETTER

What Are IRA Custodians Really Responsible For?

Custodian's Refusal to Accept REIT Investments Results in 72(t) Schedule Modification

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TWITTER TALK

@theslottreport: Active reservists called to duty for 180 days+ can take distributions from #IRAs or employer plans tax, penalty free.

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