Check, double check, and then, maybe, check again. When you are moving retirement funds, make sure they are going to the right account. We have heard so many horror stories through the years. Here's just a few "do-not-do-this" examples.
Can a non-spouse beneficiary convert an inherited IRA to a Roth IRA? What is the proper designation for an IRA trust beneficiary? These questions and more are answered in this week's Slott Report Mailbag, proudly sponsored by Goldco Precious Metals.
Taking your correct required minimum distribution (RMD) ... it sounds so easy; you just divide the balance of your IRA at the end of last year by your IRS-provided life expectancy factor. What could possibly go wrong? The answer: a lot, an awful lot. Read on for seven RMD mistakes you should avoid at all costs.
When a married couple gets divorced, IRAs can be divided as a result. So, if you’re in the middle of a divorce, you should know that some or all of your IRA can be awarded to your ex-spouse. The process is similar to how some of your other assets are divvied up, but there are major differences and special rules that apply when you’re dealing with an IRA.
In a way, it is now a new year for IRA contributions. You can no longer make IRA or Roth IRA contributions for 2014 (we warned you about the deadline). Here are 12 things to know about 2015 IRA contributions.
Can an inherited IRA qualify for a QLAC (qualified longevity annuity contract)? Can I use my Roth IRA to pay for my grandchildren to go to college? These questions and more are answered in this week's Slott Report Mailbag.
One of the most common questions retirement savers ask is, “Where should I be saving for retirement? Should I be saving in my employer’s plan? An IRA?” While there’s no one-size-fits-all answer to these questions, IRA Technical Expert Jeffrey Levine implores you to take advantage of "free" money.
We are frequently asked how to take an undistributed RMD (required minimum distribution) for an IRA account owner in pay status who died during the year. So, should the RMD come out of the deceased owner’s account before or after it is re-titled as an inherited IRA?
A taxpayer went to IRS with the plea that the 60-day IRA rollover period came and went without activity due to her financial instability during a time of employment insecurity and other stressful experiences. What was IRS' response to the request for more time?