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Roth

QCDs and Roth Conversions: Today's Slott Report Mailbag

Question: Hello, I’ve been a follower of Ed’s expertise for over 10 years. The information has always been helpful and clearly explained. At this time, I’m looking to help a client minimize her taxes. She recently inherited an IRA from her father. She has taken the “Stretch IRA” option and is now receiving her required distributions. Can she utilize a Qualified Charitable Distribution to her church (verified 501c3) to reduce her tax liability and still maintain the stretch IRA? Answer: Yes. Qualified Charitable Distributions (QCDs) are available to beneficiaries.

The Time Machine

A time machine would be cool to have. Even if it only worked on financial assets, it sure would come in handy. One might jump into the future and see if an investment paid off, or you could look around to see where the smart money succeeded. And if the original investment turned out to be a loser, you could go back in time and sell it – or never even buy it in the first place. Too bad financial time machines don’t exist. Bummer. While literal time machines have yet to be invented and we can’t quantum leap,

Roth IRAs and the 5-Year Rules

We constantly see questions regarding the distribution rules for Roth IRAs. Personally, I’ve always thought that the failure to understand these rules prevents many from truly appreciating the benefits of these accounts.

Converting After-Tax Contributions and Aggregating RMDs: Today’s Q&A Mailbag

This week's Slott Report Mailbag answers readers' questions about avoiding converting after-tax contributions to a Roth IRA and aggregating RMDs.

Roth Recharacterization Update from IRS

It has been widely reported that the Tax Cuts and Jobs Act eliminated the ability to recharacterize Roth IRA conversions as of January 1, 2018. On the other hand, it kept the ability to recharacterize IRA and Roth IRA contributions. Despite all of the above, an unanswered question on Roth IRA conversions done in 2017 lingered. At the time of those conversions the taxpayer had the ability to recharacterize the conversion up to October 15, 2018. Was that option still available to them?

QCDs and Roth Conversions: Today’s Q&A Mailbag

This week's Slott Report Mailbag answers readers' questions about QCDs and basis from a Roth conversion.

Last Minute IRA Contribution Advice

The 2016 tax-filing deadline is upon us. Are you considering making a 2016 IRA contribution? It’s not too late, but time is quickly running out. Here are some quick words of last minute advice to keep in mind as you make your contribution.

An IRA Rollover Quiz

Most people think it is easy to move their retirement assets. But is it? The following is a quick quiz. How many of these rollover questions can you get correct? The answers are at the end of the quiz.

This Week's Q&A: Converting a Pre-Tax IRA to a Roth and More

This week's Slott Report Mailbag looks into converting and contributing to different IRAs, 401(k)s, and RMDs.

Don't Lose Out on Claiming a Loss: This Week's Q&A

This week's Slott Report Mailbag looks into claiming a loss in a traditional IRA, and 403(b) transfers.

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