Hart Roth IRA
Have you heard of Hart Roth IRA for widows? we have a client that is interested in that and wants to make sure her distribution after one year is tax free.
Have you heard of Hart Roth IRA for widows? we have a client that is interested in that and wants to make sure her distribution after one year is tax free.
Permalink Submitted by Alan Spross on Wed, 2011-03-16 23:58
The “Heart Act” mostly affected qualified plans. The only application to a Roth IRA appears to be the rollover of Military Death Gratuities and Group Life Payments to a Roth IRA. If this has been done, the rollover is treated as a regular contribution to the Roth IRA, and therefore can be distributed tax and penalty free at any time.
Did the widow do such a rollover to her Roth IRA?
Permalink Submitted by Shahpar Naghshineh on Thu, 2011-03-17 14:22
Thank you as always. your answers are always very helpful.