Net Unrealized Appreciation and Qualified Charitable Distributions: Today’s Slott Report Mailbag
By Sarah Brenner, JDDirector of Retirement EducationFollow Us on X: @theslottreport Question: I need guidance on a new client with the...
Mailbag
Ed Slott’s Elite Advisor Group℠ Meets in Indiana
Ed Slott's Elite IRA Advisor Group℠ gathered in Indianapolis last week for another successful conference. Over 350 member advisors from across the country spent two intense days of training, covering topics ranging from SECURE 2.0 provisions taking effect in 2024 to fixing excess contributions.
Qualified Charitable Distributions (QCDs) and Solo 401(k) Plans: Today’s Slott Report Mailbag
By Ian Berger, JDIRA AnalystFollow Us on X: @theslottreport Question: Can a QCD (qualified charitable distribution) be made from a 401(k)...
Rollovers and Successor Beneficiary Rules: Today’s Slott Report Mailbag
QUESTION:My client is terminating employment and rolling over the funds from his 401(k). He was told that the funds must be rolled over to a “rollover IRA” and kept separate from any other IRA funds that he has. He already has another IRA, and he just wants to roll over the funds to that IRA. Is that allowed?
Inherited IRAs and Qualified Charitable Distributions: Today’s Slott Report Mailbag
Question:My brother died in 2020 and made me the beneficiary of an IRA he inherited from my sister who died in 2017. Can I continue to stretch the payments from this inherited IRA? If not, how soon do I have to empty it?
ROTH IRA DISTRBUTION RULES AND COMBINING IRAS: TODAY’S SLOTT REPORT MAILBAG
Question:Can you please clarify a question I have about whether I should take a Roth IRA withdrawal? I am much older than age 59 ½, and my first Roth IRA was opened over 20 years ago. I now own a second Roth which holds recently converted funds from my 403(b) account. I am planning to make added Roth conversions over the next couple of years and pay the tax on these conversions. If I make a subsequent withdrawal from my Roth IRA, will it be tax- and penalty-free?
Required Minimum Distributions and Qualified Charitable Distributions: Today’s Slott Report Mailbag
QUESTION:Dear IRA Help,My mother passed away in April of 2023 and no required minimum distribution (RMD) was taken. The entire IRA account was paid out to the charity that was the beneficiary. Was there a requirement to take the RMD?Joe
The 10-Year Rule and Inherited IRAs: Today’s Slott Report Mailbag
Question:I have a general question regarding the 10-year time frame for emptying an inherited IRA. Your guidance says that the deadline is the END of the tenth year following death. In this specific situation, the death occurred July 9, 2020, so I believe the deadline is December 31, 2030, the end of the tenth year.
4 Ways to Reduce Your RMD Tax Bite
Markets continue to climb. That is good news for your retirement account. However, there is a downside. When you contribute to a traditional IRA or a pre-tax 401(k), you make a deal with Uncle Sam.
10 Points: Fixing Excess IRA Contributions
‘Tis the season for identifying and correcting excess IRA contributions. It seems as if every other recent inquiry is about this subject. To keep readers on the straight and narrow, here are ten details about excess IRA contributions and the correction process…
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