
Check Both Boxes For Tax-Free Roth IRA Earnings
Any distribution from any Roth IRA follows the ordering rules – contributions first, converted dollars second, earnings last.
Any distribution from any Roth IRA follows the ordering rules – contributions first, converted dollars second, earnings last.
If you have earnings, you can’t just take out the after-tax contributions to avoid paying taxes on a withdrawal. Instead, a pro-rata rule treats part of your distribution as taxable.
Handling and tracking basis in your traditional IRAs can be challenging, but it is important to get it right.
One of the many 10% penalty exceptions is a 72(t) “series of substantially equal periodic payments.”
After-tax contributions are worth considering as they can significantly boost your retirement savings and can sometimes be funneled into Roth accounts while you’re still working.
There is still time beyond the April 15 deadline. Here are three retirement account moves for the 2024 tax year that are still available to make in 2025.
Wild swings in the market result in sleepless nights for many, but there is a potential silver lining in this storm cloud.
In the 2022 SECURE 2.0 legislation, Congress gave the IRS two years, which have come and gone, to come up with rules allowing IRA owners to fix certain mistakes through self-correction.
We've looked at 10% early withdrawal penalties, now we get a little deeper into the weeds on some of the nuances of certain exceptions.
Recent turmoil in the markets has hit many retirement savers hard as they see their IRA and 401(k) balances rapidly shrinking.
When you file for bankruptcy, one thing you usually don’t have to worry about is protecting your IRA funds from your bankruptcy creditors.
There is still time! You can still make a prior-year (2024) IRA or Roth IRA contribution up to the tax filing due date, April 15, 2025.