Beneficiaries | Ed Slott and Company, LLC

Beneficiaries

Roth Conversions and Stretch IRAs: Today's Slott Report Mailbag

Question: Could you please direct me to information that tells me how any conversions I make from my regular IRA to a Roth will be taxed. My belief was that the amount of any conversion will be taxed at whatever my tax bracket is for the year in which I make the conversion. Is that correct? Therefore, all other things being equal, it is preferable to make the conversion in years where my tax bracket is lower. Thanks for your help. Joann Answer: Joann, You are 100% correct. Any conversion from a traditional to a Roth IRA will be taxed at your tax bracket for the year in which you make the conversion. (One is not allowed to make a “prior year conversion.”) As for your second comment – also yes.

Why You May Reconsider Naming Your Trust as Your IRA Beneficiary

IRAs have been around for decades. You may have had your IRA for years. Maybe many years ago, when you established your IRA, you named a trust as the beneficiary and haven’t thought a lot about it since. You likely spent both time and money drafting the trust and were careful to name the trust on your IRA beneficiary form. Here are some reasons why it might be worth it to reconsider that decision.

IRA's with QCDs, RMDs and Tax Contributions

This week's Slott Report Mailbag looks into beneficiary IRA's with specific examples when over or under 70 1/2 years old with QCDs, RMDs as well as pre and post tax contributions.

Roth Conversion Taxes and Trust as A Beneficiary for a 403b

This week's Slott Report Mailbag looks at taxes associated with converting a Traditional IRA into a Roth; we also have a 2-part question regarding a living trust as the designated beneficiary on a 403b Plan -- that living trust then designated her children as equal beneficiaries.

Without A Living Beneficiary, Does The IRA Go to The Estate?

This week's Slott Report Mailbag answers a couple questions regarding beneficiaries of an IRA.

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