Site search

The pro-rata rule - another complicated intersection of moving IRA money. It's an important rule to know when thinking about distributing funds from your IRA, so we decided to break it down below into 3 things you need to know.

We are considering moving after-tax money in a 401k into a Roth via a conversion. We have looked at several...

A woman had an IRA naming her divorced husband as beneficiary (never changed beneficiary). She died before changing beneficiary from...

You are not allowed to invest your IRA money in collectibles such as artwork, rugs, stamps, gems, alcoholic beverages such as fine wine, and antiques. If you invest any part of your IRA in a collectible, you will get a tax bill for it. The Tax Code treats your investment in a collectible as a distribution, which means it’s taxable to you. Also, if you’re under age 59 ½ at the time of the investment, the deemed distribution will be subject to the 10% early distribution penalty tax too. The entire value of your IRA is not deemed distributed to you, only the amount invested in the collectible is taxable.

In our planning for our clients we have worked for years with an attorney who includes retirement benefits trusts (RBT)...

Good Afternoon What is the correct method for determining the IRA account balance – 72(t) payments IRS.gov FAQ’s states…. How...

I talked to two different advisors this week who had almost the exact same story involving inherited IRAs.A client inherited a small IRA from a parent and the kind bank employee gave them a check. Wouldn’t this make most beneficiaries happy? Not necessarily. Click to find out why.

Hello, I have a client who has been accumulating company stock inside her 401k from 1968 to 1998. She has...

This week's Slott Report Mailbag looks at how long you have to store year-end retirement account statements as well as how a spousal beneficiary should do if he or she decides to leave a deceased spouse's IRA separate from their own. Click to read this week's Q&A with our IRA Technical Consultant.

I am a CPA and my client’s father passed away (at the age of 88) with a will naming his...