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How should line 2a of a 1099R read after making an after-tax contribution to a 401k then converting to an...

Was there new clarification regarding Inherited IRAs and RMDs? It was my understanding the those inheriting IRAs, after the CARES...

Question: Hey Ed- Long time reader and listener of yours…and have bought a few copies of your latest book to share with clients! Prior to us being involved, my client made a Backdoor Roth contribution in 2021. He did this despite his income being below the threshold limits. Also, he had existing IRA balances. Is there anything he can do? Are the 2018 recharacterization rules such that he is stuck with any tax implications?

First post here, hoping to get some advice. In January 2021 I left my previous employer and since I didn’t...

With many 401(k) (and 403(b) and 457(b) plans) offering multiple participant accounts, your plan statement is probably more complicated than ever. Here’s a brief primer to help you understand what each account represents: Pre-tax deferral account. All retirement savings plans allow for pre-tax deferrals. You make these contributions from before-tax pay. Both the contributions and earnings are taxable when paid out.

What will happen if I have a 72T distribution and then after a year I became permanently disabled? Will my...

Good afternoon. I was planning to start a 72T distribution supposedly this March 2022, but due to market volatility I...

OK, dumb question time… Let’s say my mom dies with a Traditional IRA with investments in FFFAX (Fidelity Freedom Income...

I am going to comment on the IRS’s new proposed rules for RMDs for Inherited IRAs (https://www.regulations.gov/document/IRS-2022-0003-0001). I was wondering...

I am usually patient with the IRS. I understand the massive workload they have, and there are tax cheats lurking around every corner. The IRS does its best to ensure no loopholes exist for bad actors to circumvent tax laws to avoid paying their fair share. However, when it comes to some of the guidance in the recently released SECURE Act regulations, my patience has run out.