3 Things You Need to Know About Roth Recharacterizations
Click to read 3 things you need to know about Roth recharacterizations.
Roth IRA conversion
Recharacterization Deadline is Approaching
Approaching as quickly as a Caribbean hurricane is October 17, 2011, the day of reckoning for undoing 2010 Roth conversions. A recharacterization means reversing your Roth IRA conversion as if it never happened. Once this date passes, most individuals who made 2010 conversions that they did not recharacterize will be irrevocably locked into them as well as their accompanying tax bills.
Nonsensical IRA and Roth IRA Items (Part 2 of 3)
I think we can all accept that the Tax Code is confusing. After all, it has to provide the rules for an extraordinarily vast array of circumstances. Sometimes though, the Code goes beyond merely confusing and borders on the bizarre. “Why would Congress do that?” you might ask yourself… and you’re not alone. While there are more than just a handful of bizarre items in the Tax Code, we’ve chosen to highlight three of them that relate directly to IRAs.
Reporting Roth IRA Conversions with Form 8606
Ed Slott has talked about "Reporting Roth IRA conversions" in all of his seminars, and The Slott Report has touched on the subject in multiple entries over the last few weeks. Ed wrote a March 20th article for Investment News about the avalanche of questions about to come in (if they haven't already) on Form 8606. It has been around for years--but it will never be as popular as this year because of two key tax law changes in 2010.
Morningstar.com: IRA Interview Videos with Ed Slott
As part of Morningstar.com's IRA Improvement Week, Ed Slott talked to Christine Benz about the pressing IRA issues facing YOU on a daily basis. Below is the interview broken down into 4 separate videos.
Bank of America: Roth Conversions Spike in December 2010
An interesting article from TheStreet (www.thestreet.com) talked about a review of Bank of America's year-end business in Roth IRA conversions. Click to read the findings from this article.
Ed Slott on the Willis Report: Fox Business News
Here is Ed Slott's interview with Tracey Byrnes on the Willis Report, talking about Roth Conversion Planning. The interview is from late December, but still applies if you decided to do a 2010 Roth Conversion. Click to watch the video.
Roth Conversions Highlight Mailbag
This week's Slott Report Mailbag discusses the main IRA topic that will dominate year-end planning...a 2010 Roth conversion.
Roth Conversions and Stretching The Tax in Mailbag
This week's Slott Report Mailbag discusses some complex, timely issues involving the myths about Roth conversions and the ability to stretch the tax paid on a Roth Conversion over three years. Can that be done?
Converting Inherited Assets to a Roth IRA
You are a non-spouse beneficiary and you've inherited an IRA or employer plan assets. Can you convert those assets to a Roth IRA? The answer is yes and no.
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