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The Slott Report

Calculating Your RMD & Roth Conversions: Today's Slott Report Mailbag

Question: When calculating my required minimum distribution (RMD) amount, is my Roth IRA balance added to my traditional IRA balance? I understand I don’t have to withdraw from my Roth - just want to know how RMD’s are calculated. Thanks

The 401(k) Hardship Withdrawal Rules in a Nutshell

The September 29, 2021 Slott Report summarized the rules for taking non-hardship withdrawals from 401(k) plans. This article will focus on the hardship withdrawal rules.

Clarifying Some Roth Conversion Misconceptions

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.


Question: Hello, I have a question about the calculation for RMDs when they were missed for multiple years. Is the RMD calculated on the actual balance or the balance it would have been if the RMDs had been taken? Thank you,

RMD Deadlines for Those Reaching Age 72 in 2021

Any IRA owner turning age 72 this year will have a required minimum distribution (RMD) due for 2021. But, depending on when they celebrate their 72nd birthday, the deadline for taking the 2021 RMD may be different.

Another Good Reason to Do a Spousal Rollover

As discussed in the October 18 Slott Report, spousal beneficiaries of IRAs can take advantage of certain payout rules that aren’t available to non-spouse beneficiaries. For example, a surviving spouse who remains a beneficiary can defer required minimum distributions (RMDs) until the year her deceased spouse would have turned age 72. Also, when RMDs begin for surviving spouse beneficiaries, the spouse can go back to the IRS Single Life Expectancy (SLE) Table each year to recalculate her life expectancy factor.

The Once-Per-Year Rollover Rule and The Recent Proposals by Congress: Today's Slott Report Mailbag

Question: I have four IRAs. Does the once-per-year IRA rollover rule mean I can only take one distribution per year in total or does it mean I can only take one distribution per year from each of my four IRAs? Glen

Persevere, Charlie Brown!

Charlie Brown, wearing a ghost costume full of too many eye holes cut in all the wrong spots, famously peered into his trick-or-treat bag and said, “I got a rock.”

Retirement Planning for the Self Employed

Not everyone has a boss. In an economy upended by COVID, individuals, sometimes by choice and sometimes not, are striking out on their own and starting new businesses or becoming part of the gig economy. A critical issue for these workers is how to save for retirement.

72(t) Payments and Inherited IRAs: Today's Slott Report Mailbag

Question: My situation is as follows: I am 56 years old and have an IRA which I have been taking SEPP/72(t) payments since 2008.

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