Site search

An IRA rollover is when you take money out of your IRA or Roth IRA and the distribution is payable to you. You can put the funds in your bank account, spend them, invest them, do anything you want with them. Then, within 60 days, you can put all or part of the amount distributed back into your IRA or Roth IRA. There will be no tax or penalty on this transaction.But how do you know when the 60 days are up? You do NOT start counting from the date you request the distribution, the date on the check, or the date the funds left the IRA account. You start counting on the date you receive the funds if they are mailed,

This week's Slott Report Mailbag answers questions about spousal beneficiaries, inherited IRAs and keeping the Stretch IRA provision (biggest benefit in the tax code!) for your heirs and required minimum distributions.  As always, we stress the importance of working with a competent, educated financial advisor to keep your retirement nest egg safe and secure. Find one in your area at this link.1.Ed:I have your book, but unfortunately it is at my cabin so I don't have access right now. I am inheriting a Roth IRA from my wife, who recently passed away at 65. It was converted to a Roth in December 2008. First question: Is it better to keep it as a separate Roth IRA, or add it into my existing Roth IRA?

Client date of birth 6/2/42, retiring in June, turns 70-1/2 in December 2012. Client has a 401(k) and an IRA....

Greetings, This is the situation of my friend – whose husband has recently passed away with cancer. Before marriage the...

I have a client who recently passed and left her annuitized IRA’s to her son. They have 7 years left...

For those plans that allow the rolling out and conversion to a Roth IRA from a 401k after tax contribution...

A little help please….I have a client that is trying to get all of her inherited accounts in order and...

The IRS has released the winter 2012 issue of the Statistics of Income (SOI) Bulletin. The SOI Bulletin is produced on a quarterly basis and provides the most recent data available from various returns filed by U. S. taxpayers. This latest SOI Bulletin includes data on personal wealth in the U. S. for 2007 and information from individual income tax returns filed for 2009. Information related to several other categories is also provided.

Someone mentioned that many corporate 401k plans allow after tax contributions (up to $10,440 annually) to be rolled out to...

Hello, I converted 2 separate IRAs into ROTH IRAs in 2010. I realized that I needed to recharacterize one of...