The 10-Year Rule and Required Minimum Distributions: Today’s Slott Report Mailbag
By Andy Ives, CFP®, AIF®IRA Analyst QUESTION: Good afternoon, If a client passed this year with four adult children inheriting...
Inherited IRA
Final Regulations Allow Separate Accounting for Trusts
The recent final required minimum distribution (RMD) regulations include a new rule change that may be beneficial for IRA owners who name trusts as beneficiaries. In the new regulations, the IRS allows separate accounting for RMD purposes for more trusts. This can be helpful when a trust has beneficiaries who can potentially have different payout periods under the RMD rules.
NEW SPOUSAL BENEFICIARY RULES AND EFFECTIVE DATE OF 10-YEAR RULE: TODAY’S SLOTT REPORT MAILBAG
Question:I inherited an IRA from a younger deceased spouse who wasn't required to take required minimum distributions (RMDs) until this year. Can I take advantage of the new section 327 rules under SECURE 2.0 since the RMDs haven't commenced yet?
REQUIRED MINIMUM DISTRIBUTIONS: TODAY’S SLOTT REPORT MAILBAG
QUESTION:I inherited a traditional IRA from my mother in 2024. She passed before her required beginning date (RBD.) I know that I fall under the 10-year rule. The question is, do I need to start required minimum distributions (RMDs) in 2024 and deplete the account by 2034, or can I wait until 2034 and deplete the entire account all at once?
New Rules Loosen or Eliminate Documentation Rules for See-Through Trusts
Sarah Brenner, JDDirector of Retirement Education The new required minimum distribution (RMD) rules recently issued by the IRS include some...
SUCCESSOR BENEFICIARIES AND INHERITED IRA ROLLOVERS: TODAY’S SLOTT REPORT MAILBAG
By Ian Berger, JDIRA Analyst Question: Under IRS rules, if I am currently receiving required minimum distributions (RMDs) and die...
Roth IRAs and Successor Beneficiaries: Today’s Slott Report Mailbag
QUESTION:I have been getting emails from a few sites pitching their subscriptions. They claim that Roth IRAs will all be taxable in the future. They say there are things you can do to avoid these taxes, but to find out what they are you have to subscribe to their newsletter. Is this true, and if so, how can one avoid taxes for Roth IRAs?
INHERITED ROTH IRAs AND NUA: TODAY’S SLOTT REPORT MALBAG
Question:Thank you for all of the wonderful information. I have a question as to how the July 18, 2024 final regulations impact inherited Roth IRAs. My daughters inherited Roths from their grandmother 3 years ago. She was age 101.
Inherited IRAs and Net Unrealized Appreciation: Today’s Slott Report Mailbag
QUESTION:I inherited both a traditional and a Roth IRA from my significant other (non-spouse) who passed away in 2021. He had started taking required minimum distributions (RMDs). I am less than 10 years younger than he was. Question is: do I or do I not have to empty both accounts within 10 years of his death? No one is giving me an answer one way or another.
New RMD Regs Have a Surprising Result for Minor Child Beneficiaries
By Sarah Brenner, JDDirector of Retirement Education In newly released final required minimum distribution (RMD) regulations, the IRS is doubling...
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