Roth IRA | Ed Slott and Company, LLC

Roth IRA

Turning Back the Clocks and Revisiting the Roth IRA Five-Year Clocks

Monday, November 27, 2023
A few weeks ago, many of us were required to turn back our clocks one hour and say goodbye to daylight savings time. And with that change came the usual reminder to change the batteries in our smoke detectors. Based on the number of questions we continue to get about the Roth IRA five-year distribution rules, we think that adjusting the clocks should come with another reminder – on how the Roth IRA clocks work.
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Still-Time-Left To-Do List

Monday, November 20, 2023
Year-end to-do lists are commonplace. The problem is, they always seem to get published in mid-to-late December. I can almost hear the collective “thanks for nothing” comment from readers as the information arrives too late to act upon. As we are still before Thanksgiving, here are a few year-end items to consider…before it really is too late.
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NUA and Roth IRA Contributions: Today's Slott Report Mailbag

Thursday, November 16, 2023
Question: My client’s husband recently passed away. We have converted her late husband’s 401(k) to a beneficiary 401(k) in preparation for transferring it to a beneficiary (inherited) IRA. There is company stock inside the 401(k) currently. We want to leverage the NUA (net unrealized appreciation) tax strategy. Is stock inside a beneficiary 401(k) eligible for NUA, the same as the stock would have been when he was alive? All the best,
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NUA and Roth IRA Contributions: Today's Slott Report Mailbag

Thursday, November 16, 2023
Question: My client’s husband recently passed away. We have converted her late husband’s 401(k) to a beneficiary 401(k) in preparation for transferring it to a beneficiary (inherited) IRA. There is company stock inside the 401(k) currently. We want to leverage the NUA (net unrealized appreciation) tax strategy. Is stock inside a beneficiary 401(k) eligible for NUA, the same as the stock would have been when he was alive? All the best,
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The Five-Year Rule and RMDs: Today's Slott Report Maibag

Thursday, November 09, 2023
Question: In 2020 and 2021, when I was over 65 years old, I converted some of my IRA into a Roth IRA. Does the five-year rule still apply to me, or can I now draw out all of the Roth IRA without any tax consequences?
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The Pro-Rata Rule and Minor IRA Beneficiaries: Today’s Slott Report Mailbag

Thursday, November 02, 2023
Question: Dear Mr. Slott, I made $40,000 additional non-deductible (after taxes) contributions to my IRA many years ago. I have filed IRS Form 8606 every year informing the IRS of the contributions. I would like to withdraw the $40,000 this year so that when I have to take my RMDs next year, the reporting to the IRS will be simpler.
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Roth IRA Distribution Ordering Rules – Keep It Simple

Monday, October 30, 2023
Within the 400-page Ed Slott advisor training manual, we include a basic chart that outlines the Roth IRA distribution ordering rules and the availability of those specific dollars. When presenting the material to a live audience, I always say it is my favorite page.
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James Caan’s Estate Gets Whacked Over the Same-Property Rollover Rule

Wednesday, October 25, 2023
You may not be familiar with the tax code’s “same-property rule” that applies to IRA-to-IRA (and Roth IRA-to-Roth IRA) rollovers. The rule requires that the property received in an IRA distribution must be the same property that is rolled over. If you receive cash, you have to roll over cash.
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Common Confusions with the Once-Per-Year Rollover Rule

Monday, October 23, 2023
The once-per-year IRA rollover rule sounds pretty easy to understand. You may only do one IRA-to-IRA (or Roth IRA-to-Roth IRA rollover) per year (365 days). However, this rule is often misunderstood. One common confusion about the once-per-year rollover rule is whether multiple distributions or multiple deposits will trip you up.
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The Back-Door Roth Strategy and Spousal Beneficiaries: Today's Slott Report Mailbag

Thursday, October 19, 2023
I earn too much money and can’t do a Roth IRA. I have heard about the back-door Roth IRA strategy for those who earn more than the allowable contribution for the Roth IRA where they contribute to a traditional IRA and then roll over to a Roth IRA.
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