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Tracking Basis with IRS Form 8606

Like other accounts, distributions from IRAs of basis comes out tax-free. In this setting, basis would include both nondeductible IRA contributions and after-tax funds rolled over from company plans.

A Not So Simple Discussion on SIMPLE IRAs

SIMPLE IRAs are popular retirement vehicles for small businesses. They are relatively cheap to adopt and are easy to understand and administer. However, that doesn’t mean problems do not arise.

Missed and Excess RMDs: Today’s Slott Report Mailbag

Hi Mr. Slott,I have been to several of your IRA continuing workshops over the years. Today I had someone in my office that stated they have not taken the rmd from an inherited IRA for 9 years. Whats your advice in this situation. Thank you for you help in this matter.

Combining Inherited IRAs and their RMDs

IRA owners can clearly combine the accounts they own and they can combine the required minimum distributions (RMDs) from multiple IRAs and take them from any one or combination of their IRAs. But what are the rules for inherited IRAs?

Roth Contributions & Calculating RMDs: Today’s Slott Report Mailbag

Hi, I am an advisor and attended the Instant IRA Success workshop in 2017 and found it really useful in my practice. I have a client situation I am trying to clarify and am sure you can help. The client ( husband )passed away on December 27, 2017 at age 82 and was taking RMDs from his IRA.

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