ONCE-PER-YEAR ROLLOVER RULE AND NEW LIFE EXPECTANCY TABLE: TODAY’S SLOTT REPORT MAILBAG | Ed Slott and Company, LLC

ONCE-PER-YEAR ROLLOVER RULE AND NEW LIFE EXPECTANCY TABLE: TODAY’S SLOTT REPORT MAILBAG

By Ian Berger, JD
IRA Analyst
Follow Us on Twitter: 
@theslottreport


Question:

My question relates to an IRA withdrawal that is then deposited as a Roth conversion. Will this withdrawal count as a once-per-year IRA rollover?

Thanks in advance for your wonderful advice.

Regards,

Peter


Answer: 

Hi Peter,

Thanks for the kind words. Roth conversions are not subject to the once-per-year rollover rule. Only traditional IRA-to-traditional IRA and Roth IRA-to-Roth IRA rollovers count.


Question:

My question is about the Uniform Lifetime Table. I started taking my lifetime RMDs in 2018 when I was age 70-1/2. So, for this year (I will be 74) I would be using the divisor of 23.8 using the old Uniform Lifetime Table. My questions is: Do I keep using that table, or should I use the new 2022 RMD Uniform Lifetime Table, therefore making the divisor 25.5? 

Sincerely,

Gary


Answer: 

Hi Gary,

You should switch to the new Uniform Lifetime Table and take advantage of the longer life expectancies, in your case, 25.5 for 2022. This will result in a slightly lower annual RMD.

 


Content Citation Guidelines

Below is the required verbiage that must be added to any re-branded piece from Ed Slott and Company, LLC or IRA Help, LLC. The verbiage must be used any time you take text from a piece and put it onto your own letterhead, within your newsletter, on your website, etc. Verbiage varies based on where you’re taking the content from.

Please be advised that prior to distributing re-branded content, you must send a proof to [email protected] for approval.

For white papers/other outflow pieces:
Copyright © [year of publication], [Ed Slott and Company, LLC or IRA Help, LLC - depending on what it says on the original piece] Reprinted with permission [Ed Slott and Company, LLC or IRA Help, LLC - depending on what it says on the original piece] takes no responsibility for the current accuracy of this information.

For charts:
Copyright © [year of publication], Ed Slott and Company, LLC Reprinted with permission Ed Slott and Company, LLC takes no responsibility for the current accuracy of this information.

For Slott Report articles:
Copyright © [year of article], Ed Slott and Company, LLC Reprinted from The Slott Report, [insert date of article], with permission. [Insert article URL] Ed Slott and Company, LLC takes no responsibility for the current accuracy of this article.

Please contact Matt Smith at [email protected] or (516) 536-8282 with any questions.

 

Find members of Ed Slott's Elite IRA Advisor GroupSM in your area.
We neither keep nor share your information entered on this form.
 

I agree to the terms and services:

You may review the terms and conditions here.