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Hi, I received a distribution from a ROTH IRA that I did not re-characterize in time (I am over the...

Question: For the last three years, I have done a back door Roth conversion. I do the conversion in January. I am 68 years old and I am rolling over my 457(b) New York City deferred compensation plan funds to a rollover IRA with Vanguard. They will get the money around April 1, 2020. Will there be a tax penalty for the 2020 Roth conversion? Answer: When you do a back door Roth conversion, the pro-rata rule applies if you have pre-tax funds in any of your IRAs. In that case, a portion of your conversion will be considered taxable based on the ratio of your pre-tax IRA funds to the sum of all of your IRA funds.

Have a client that made a 6,500 non-deductible contribution to an IRA. There is a total of $7,500 in the...

Alan-iracritic, I would appreciate your comment on the likelihood that the proposed IRS changes in life expectancy tables will become...

Under the SECURE Act, can a trust be an an EDB if the primary and remainder beneficiaries are EDBs? if...

I have a client who has about 50k in the after tax portion of his 401k. Can he roll that...

My understanding is that the five-year period on a 72(t) payout schedule ends on the fifth anniversary of the first...

1. Can I take a Lump Sum Distribution (LSD) (Total) from my Company 401k Retirement Plan after having taken several...

Most workplace retirement plans allowing elective deferrals fall into one of these varieties: 401(k) plans for employees of private sector companies. 403(b) plans for employees of tax-exempt employers, public schools and churches. 457(b) plans for employees of state and local governments. Although many of the tax rules governing these types of plans are the same, there are some important differences. (This article doesn’t cover the Thrift Savings Plan, for federal government workers and the military, or 457(b) “top-hat” plans for employees of tax-exempt employers.)

Have a client who made a 7,000 Roth contribution for 2019. After preparing his 2019 return, realized he would be...