Can I Put My RMD in a Roth IRA?
Q: Can I invest my RMD (required minimum distribution) into my Roth IRA?
A: Easy answer: No.
IRAs are subject to RMDs after reaching age 72
IRA Q&A With Ed Slott: How Do I Get Back My 2020 RMD?
Q: Early last year I took my 2020 required minimum distribution (RMD) from my IRA, but later in the year the tax law waived RMDs, so I returned the funds.By doing this, I thought this was all taken care of, meaning that I thought I was “zeroed” out with no tax due.
But now it's tax time, and I have two issues I'd like help on.
How to Take Money From Your Retirement Account Because of Covid-19
Q: I'm 62, single, no children, self-employed.I'm slowly recuperating from COVID, although I'm a long way from recovered.
I have a Roth IRA and a rollover IRA
Ed Slott: How Many Beneficiaries Can I Have for My IRAs?
Q: I have two Roth IRAs at separate brokerage firms.I want to name my wife as beneficiary for one account and my son as beneficiary for the other.
When I die, can my wife convert her account into her own Roth IRA so she does not have to withdraw the money in 10 years
IRA Expert Answers More Questions On Required Minimum Distributions
Last month, I outlined how the CARES Act would affect required minimum distributions (RMDs) from retirement plans.But with complex legislation, new questions always arise
CARES Act Waives Required Minimum Distributions From Retirement Accounts for 2020
Every month, IRA expert Ed Slott is taking your questions about Individual Retirement Accounts.One is about a potential tax benefit for some retirees included in the "Coronavirus Aid, Relief, and Economic Security Act,” or CARES Act.
Did the SECURE Act Kill the Stretch IRA?
What the new rules say about paying taxes on inherited funds
Starting this month, IRA expert Ed Slott is taking your questions about Individual Retirement Accounts.He starts by addressing what to do about new rules in the 2020 SECURE Act that affect most beneficiaries who inherit tax-deferred funds starting this year.
Countdown to Retirement: 1 Year
Make a direct transfer from the institution holding one account to the company where the money is going, says IRA expert Ed Slott.Ask the firm on the receiving end for help; any checks should not be made out directly to you