Q:
My client recently passed away at
the age of 86 and the beneficiaries
were his twin grandchildren who are
six years old. Does their 10-year
clock to withdraw the funds start
right away, or can they wait until
they are 18 years old to start their
10-year clock to withdraw the funds?
Answer
Q:
Can you do a Qualified
Charitable Distribution (QCD) to a
donor advised fund?
Answer
Q:
My wife and I recently watched your
interview on Morningstar and you
introduced the “Mega QCD.” Both my
wife and I are currently at age 69, so
we are not eligible for a QCD this
year. However, it seems like we are
qualified to make a “Mega QCD”
contribution in 2021. We would like to
use our IRA money to make charitable
contributions. We have questions on
how to report the “Mega QCD” on our
tax form. Hopefully, you can help us
to clarify.
Answer
Q:
I opened a Roth IRA in 2021 with a
$7,000 contribution. Where will I
report this when I file my taxes?
Answer
Q:
I read of a way to move money from an
IRA to a Roth without incurring any
taxes. You set up an IRA account and
make a non-deductible contribution of
$6,000, then you convert it into a
Roth. Is this legal and possible?
Answer
Q:
Can you put funds into a Roth IRA for
a 14 year old using money you have
paid the child for doing chores?Client
was told all he needed to do was keep
a record of what was paid by to the
child.
Answer
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