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1. If I sell ETF shares in a taxable account to generate a loss and buy the same ETF in...

Taxpayer is an employee. He and his wife own 100% of C Corp. C Corp employer contributes to SEP-IRA on...

Hello, I’m working with a married couple who have both made an excess Roth contribution for 2016, 2017, 2018, 2019,...

Question: Good Afternoon Ed Slott and Company, LLC, I was inquiring about a recent situation with a client that came up and if you could be of any assistance. We recently had a client pass away who was the account holder of an inherited IRA from his mother. This client died in July 2020. The deceased listed his wife as 100% primary beneficiary of his inherited IRA and she will inherit this second-generation IRA once the new account is opened.

Situation: My brother passed and left his IRA to multiple beneficiaries, one is his spouse. I am being told I...

Despite the COVID-19 pandemic, or maybe even because of it, real estate markets in many areas of the country are busy right now. If you are considering jumping in, and if this is your first home purchase, coming up with a down payment can be daunting. Here is how an IRA can help a first-time homebuyer. Exceptions to the 10% Penalty IRAs are supposed to be for saving for retirement.

Client made a non-deductible contribution for 2019 but didn’t file form 8606. 1. Does the $50 failure to file penalty...

As sure as the sun will rise, someone will take a distribution from his IRA tomorrow. And as sure as the moon will set, someone will fail to roll over his IRA distribution within 60 days. And as sure as the wind will blow, so too will the icy gusts from the IRS as penalties and taxes accumulate like a snowdrift upon said distribution when the 60-day rollover deadline is missed. Yes, a person is permitted to take a distribution from his IRA and roll it over to another (or the same) IRA within 60-days. But only one rollover is allowed within a 12-month period. That means no rollovers for the next 365 days.

This year a client rolled over 2 IRA accounts in trustee-to-trustee rollovers into one combined account. It was learned after...

Dear Alan et al, I have a client who mistakenly made a non-deductible Traditional IRA contribution in Jan 2020 for...