Roth IRA conversion | Ed Slott and Company, LLC

Roth IRA conversion

Clarifying Some Roth Conversion Misconceptions

Monday, November 08, 2021
As Roth IRA conversions become more popular, questions and misconceptions abound. In no particular order, here are a dozen Roth IRA conversion facts, issues, and mistakes to avoid: 1. Anyone with an IRA can do a Roth conversion. There are no income limits. You can have $0 earned income and do a Roth conversion. You can make a million dollars and convert.
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How Your IRA Can Cost You When It Comes to Medicare

Monday, May 15, 2017
You have done the right thing for years. You have diligently saved and accumulated funds in your IRA. At some point, the funds that you have put away for years must come out. Uncle Sam wants his share. When you reach age 70 ½, you must take a required minimum distribution (RMD) for that year and for every year thereafter.
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Can I Open a Roth IRA and Fund it with my IRA?

Thursday, October 06, 2016
This week's Slott Report Mailbag examines ERISA creditor protection differences for 401(k)s and IRAs and answers a consumer's question on funding a Roth IRA.
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6 Things to Know if You Are Thinking about a 2016 Conversion

Wednesday, October 05, 2016
Are you considering converting your traditional IRA to a Roth IRA in 2016? If you are making this important decision, here are 6 things you will want to know.
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What Should My Brother-in-Law Do With Pre- and After-Tax Retirement Funds?

Friday, August 19, 2016
This week's Slott Report Mailbag answers a consumer's question about how much community property rules tie into his and his wife's retirement accounts and works through Tom's brother-in-law's delicate strategy involving pre- and after-tax retirement funds.
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Another RMD Conundrum: How Can I Liquidate My IRA With RMDs Approaching?

Friday, August 05, 2016
This week's Slott Report Mailbag answers a consumer's question on how to handle taxes with charitable gifts and walks a husband through the complicated process of moving IRA funds to a Roth IRA while facing required minimum distributions (RMDs). As always, we recommend you work with a competent, educated financial advisor to keep your retirement nest egg safe and secure.
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Exceptions to the Pro-Rata Rule for IRA Distributions

Wednesday, August 03, 2016
Have you ever made non-deductible IRA contributions? Or, rolled over after-tax funds from your company plan to your IRA? If so, you will want to know about the pro-rata rule. The pro-rata rule is a rule that almost always determines the taxation of an IRA distribution when the IRA owner has any IRA containing after-tax amounts. However, some IRA distributions are not subject to the pro-rata rule. These exceptions may provide an opportunity for you to lower the tax bill that comes with an IRA distribution or conversion.
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You Are Never Too Old to Convert

Monday, July 25, 2016
There is a lot of information out there about how converting to a Roth IRA is a great move for younger people. This is no surprise. A younger person who converts may pay taxes on a smaller IRA balance and have years to accrue tax-free earnings in their Roth IRA. But what about older people? Older individuals should not overlook the potential tax benefits of converting later in life.
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Can My Sister Take the Inherited IRA RMD For Both of Us?

Thursday, July 21, 2016
This week's Slott Report Mailbag answers a popular required minimum distribution (RMDs) question - can my sister take the inherited IRA RMD for both of us? - and another consumer's inquiry on Roth conversion tax reporting.
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Who Pays For a Mistake in Your IRA?

Tuesday, July 19, 2016
You took a distribution from your employer plan or another IRA and the receiving company put it in the wrong account. Your IRA company did not process your 72(t) distribution in the correct amount. An advisor/salesman told you that the company offering a “great” investment could hold it as an IRA. Someone at the bank told you that you could do a rollover in 90 days, or that you could roll over more than one IRA distribution in a year. You get the idea. So who is at fault for these issues?
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