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My IRA & ROTH-IRA are both 15 years old. I’ve converted some funds from my IRA to my ROTH-IRA for...

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Advisor Mailbag

GUEST EXPERT:
Dawn Santoriello,

The April 23, 2025, Slott Report article, "After-Tax 401(k) Contributions Shouldn't Be an Afterthought," discusses how 401(k) after-tax contributions can be moved into Roth accounts through in-plan Roth conversions, the “mega backdoor Roth IRA,” or split rollovers. This article will explain the tax implications of these strategies.

QUESTION: My wife and I created a Roth IRA when our two children were young to pay for their college education. Our daughter is finishing her second year of school, and our son will be entering college this fall. We have withdrawn $30,000 so far from our contributions to pay her expenses. The current value of the Roth IRA is over $150,000.

In 2024, a client (age 49) and inherited her husbands (age 50) IRA and left it as an inherited IRA....

In 2024, a client (age 49) inherited her husbands IRA (age 50) and left it as an inherited IRA in...

While most distributions from a Traditional IRA are taxable, sometimes distributions can include after-tax dollars. These after-tax dollars are known as “basis.” Handling and tracking basis in your Traditional IRAs can be challenging, but it is important to get it right. If mistakes are made, double taxation can occur. That is a result no IRA owner wants.

While House Republican lawmakers approved a Senate-passed budget outline, "the details still need to be ironed out," according to Ed Slott of Ed Slott & Co., and the "actual tax and spending provisions are as yet unknown." But generous gift and estate tax exclusions as well as standard deductions would likely continue, Slott said.

Industry veterans Ed Slott and Ric Edelman are counseling advisors and their clients to stay the course after markets plunged Thursday on news that President Donald Trump imposed tariffs of at least 10% on all imports. "On days like this — and [Thursday’s] may be a record decline — it’s best to do nothing," Slott of Ed Slott & Co., told ThinkAdvisor in an email.

My client, Susan, age 81, passes away in late January 2025. She has a traditional IRA with $900,000. One beneficiary,...