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Roth IRA

Commingling Inherited Assets and QCDs: Today’s Q&A Mailbag

This week's Slott Report Mailbag answers readers' questions about commingling assets and QCDs.

Tracking Roth Contributions for Those Under Age 59½

One of the benefits of a Roth IRA is that contributions can always be distributed out of the Roth IRA with no tax, and no early distribution penalty for those that are under age 59½. But, you have to be able to prove to IRS that you are taking a distribution of contributions only. Under the distribution ordering rules, all Roth IRAs are treated as one Roth account, contributions are deemed to be the first amount distributed, then conversions – first in, first out – and lastly earnings are distributed.

5 Roth IRA Facts That May Surprise You

Do you think you understand all the rules that govern your Roth IRA? Not so fast! There are many misconceptions as to how these complicated accounts work. Here are 5 Roth IRA facts that might surprise you.

Roth IRA Contributions and RMD Rules: Today’s Q&A Mailbag

This week's Slott Report Mailbag answers readers' questions about Roth IRA contributions and RMD rules.

Happy 20th Birthday Roth IRA! – Here Are 20 Roth IRA Facts You Need to Know

The year 1998 seems like a long time ago. In January 1998, Bill Clinton was in the White House and about to be impeached. The Unabomber was in the news and the Spice Girls were winning music awards. January 1, 1998 also brought us the launch of Roth IRA. However, unlike other ‘90’s memories, the Roth IRA is still going, stronger than ever. You may already be reaping the tax benefits of your own Roth IRA. Or, maybe you’ve hesitated to open one. The 20th anniversary may be the time for you to take the plunge. To celebrate the occasion, here are 20 Roth facts you need to know.

Tax Reform Targets Your Ability to Undo Your Roth IRA Conversion

Recharacterization is currently one of the few “do-overs” allowed under the tax code. Its days may now be numbered. The tax reform legislation currently pending in Congress would do away with recharacterization at the end of 2017.

Rollovers, Spouse as the Beneficiary, and Backdoor Roth: Today’s Q&A Mailbag

This week's Slott Report Mailbag answers readers' questions about rollovers, spouse as the beneficiary, and the backdoor Roth.

Roth IRAs - Favored for Annual Contributions, Neglected for Rollovers from Company Plans

Roth IRAs become 20 years old in January of 2018 and now hold more than $660 billion in retirement wealth, reports the Investment Company Institute. Yet while Roth IRAs have become very popular among individuals who make annual contributions to IRAs, they are near totally avoided by persons who roll over big-dollar distributions from company retirement plans into their IRAs, with these funds going overwhelmingly into Traditional IRAs.

Tax Reform Proposal Unveiled

The much anticipated Republican proposal for tax reform has been released in the form of the Tax Cuts and Jobs Act, an over-400 page long major rewrite of the Tax Code. It is sure to be controversial and subject to political dispute, and specific provisions are likely to change. Here's how the major provisions that most matter to helping your clients read now.

The Rules and Strategies When You Inherit an IRA From Your Spouse: This Week’s Q&A

This week's Slott Report Mailbag looks into RMDs and spousal IRA beneficiaries.
 

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