The Slott Report

Can You Lose an IRA to Medicaid?

As Americans live longer, more are eventually coming to need long-term nursing home care. The cost of this can be devastating to a family. Nursing home care now costs an average of over $85,000 per year, and much more than that in some parts of the country.

IRS Official Says Back-Door Roth Transactions are OK

For years there has been concern by some planners that a back-door Roth conversion might be considered a step transaction by IRS. Most planners, however, did not feel that a back-door Roth fit all the criteria of a step-transaction.

Late 401(k) Deposits

Every retirement plan custodian has an interactive website that participants can visit, if their employer offers that feature. While all are a little different, the websites all contain access to vital information about your account under the plan.

Rolling Over IRAs & Excess Contributions: Today’s Q&A Mailbag

Question: My husband passed away this April at 83. I’m 68 and sole beneficiary of his traditional IRA. I was advised that it didn’t matter if I rolled his IRA into mine and then took his RMD for the year as long as I do so by 12/31/2018. I rolled his IRA into mine early May.