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We have a client who’s husband passed away in July of 2012 and whom had already been taking RMD’s. In...

As a preface to my question, I have a retired client sge 70 1/2, who is about to roll over...

Good Afternoon What are the applicable rules when a trust inherits a T-IRA and the underlying trust beneficiary subsequently passes...

Whenever you receive an IRA distribution, you have 60 days from the day you receive it to roll it over, tax-free, to another IRA. The failure to complete a rollover within 60 days means the funds aren't eligible for rollover, and that means the IRA distribution will be taxable to you. Also, if you’re under age 59 ½ at the time, the 10% early distribution penalty will apply. But in some cases, you can get more time to complete a tax-free rollover.

How is a distribution made after taxpayer has reached 70 1/2 years directly by the trustee to a charity (...

Private Letter Ruling 201347025 is an IRS first when it comes to the 60-day rollover rule. A taxpayer we will call "Ron" asserted that his failure to accomplish IRA rollovers within the 60-day rollover window was due to inaccurate advice from an IRS agent. Click to find out what happened to Ron.

For IRA distribution purposes, all IRAs (except Roth IRAs) are considered one big giant IRA. It doesn’t matter if you have one IRA that was rolled over from a former employer, and one SEP IRA with your current employer, and one contributory IRA where you put annual contributions, and one after-tax IRA where you put contributions for which you do not take a deduction. All four IRAs will be considered one IRA any time you take a distribution.

When managing your retirement account, you should be aware of the unexpected ways those employer-sponsored or IRA accounts could actually COST you. Jeffrey Levine details 3 of those situations in the article below.

Client age 80 will retire on 12/31/2013. In january 2014 he will establish an IRA and rollover his deferred comp...

If you are an IRA owner and are over age 70 ½ this year, you have to take your required minimum distribution (RMD) by December 31, 2013. If you want to give money to charity this year and haven’t yet taken your IRA RMD, you should consider giving your RMD directly to the charity. Click to find out why.