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It is not unusual to inherit an IRA from someone who is not your spouse. Many people inherit an IRA from a parent or a sibling. If this is the case for you, here are six things you will want to know.

I recently distributed more than 10000 shares of BAC company stock from my 401k to a taxable account with a...

1) There Are No Restrictions Preventing a Tax Break When you defer a portion of your salary into a traditional 401(k), the amount deferred will reduce your taxable income dollar-for-dollar. This is true regardless of how much income you (and your spouse, if applicable) have. In contrast, contributions to a traditional IRA are generally entitled to a tax deduction as well, but if your income is above certain limits and you (and/or your spouse, if applicable) are an active participant in an employer-sponsored retirement plan, then that deduction can be reduced or eliminated. Thus, in some scenarios, a contribution to a traditional IRA won’t help you reduce your current tax bill.

In 2004 I rolled-over my company 401K to an IRA. The entire 401K went into a single IRA. Now I...

Here’s the situation…. 1. 3/10/2017 = client received a distribution check of $46,500 from IRA Custodian #1. He endorsed the...

I want to know advantages and disadvantages of doing a ROTH 403b account through my employer versus doing a Roth...

On April 26, 2017, the Trump administration released its highly anticipated tax reform plan. The administration said the goals of the plan include growing the economy, creating jobs and simplifying the tax code. The changes proposed are significant and if passed (and that is a big “if”) could have a major impact on your retirement planning.

This week's Slott Report Mailbag looks into inherited IRAs, RMDs, illegal trades, and PLRs.

In two weeks I had three trusts come across my desk that were named as the beneficiary of the account owner’s IRA. The account owner had now died and the universal question was, “Now what?”

If I were to inherit an IRA today at 50 years old and chose to stretch using a divisor of...