Is the Back-Door Roth IRA Strategy Still Viable?
This week's Slott Report Mailbag answers a college student's question on qualifying income for a Roth IRA contribution and discusses the still viable "back-door Roth" strategy.
Mailbag
I’m Over the Contribution Income Limit – Can I Still Get Money Into a Roth IRA?
This week's Slott Report Mailbag looks at the complications involved with pre- and after-tax contributions to different retirement plans and the rules involved with conversions and distributions.
Do My Parents Need to Hold Their Converted Roth IRA Funds For Five Years?
This week's Slott Report Mailbag answers a question on how to distribute converted funds from a Roth IRA, discusses special required minimum distribution (RMD) rules for IRA beneficiaries and looks at the fine print of IRS Form 8606.
Is My Net Unrealized Appreciation Option Lost Forever?
This edition of The Slott Report Mailbag looks at minimizing the upfront tax impact of a Roth IRA conversion, highlights the 401(k) and SEP IRA contribution limits and answers a question on the BIGGEST planning opportunity in the tax code - net unrealized appreciation.
Will I Pay Tax When I Convert to AND Distribute Funds from a Roth IRA?
It's time for another edition of The Slott Report Mailbag, where we answer consumer questions on situations involving Roth conversions and the pro-rata rule, whether you need earned income to contribute to a Roth IRA and certain Roth IRA tax scenarios (reminder: Tax Day is Monday!)
What Are The Spousal Roth IRA Beneficiary Rules?
It's time for another edition of The Slott Report Mailbag, where we answer consumer questions on required minimum distribution (RMD) procedures with IRA annuities, The Roth conversion conversation and the Roth IRA beneficiary rules for spouses.
Can I Convert Funds From an IRA to a Roth IRA Before Age 59 1/2?
It's time for another edition of The Slott Report Mailbag, where we answer a parent's question on whether her son's Roth IRA contributions were done within the rules, assess whether an IRA account can be converted to a Roth IRA before age 59 ½ and examine an employee's pro-rata complexities with moving after-tax 401(k) funds to both a traditional and Roth IRA.
How to I Handle My Excess Roth IRA Contributions?
This week's Slott Report Mailbag looks at possible miscues and how to handle them. What constitutes an excess Roth IRA contribution? One individual below has to deal with the 6% penalty while another doesn't. We explain why.
Do I Have to File IRS Form 5329 For Each Year an RMD Was Missed?
This week's Slott Report Mailbag looks at the issues involved when an IRA beneficiary must take missed required minimum distributions (RMDs) for the original account owner, answers a question about the backdoor Roth IRA conversion and outlines the process of making SEP IRA contributions and converting those to a Roth IRA.
What Options Does an Estate Have as IRA Beneficiary?
This week's Slott Report Mailbag dives into details on SIMPLE IRAs and SEP IRAs, explains the legality of having a 401(k) versus a Roth 401(k) and walks the questioner through the options an estate has as an IRA beneficiary. As always, we stress the importance of working with a competent, educated financial advisor to keep your retirement nest egg safe and secure.
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