Case Study: Using Technology to Minimize Client Taxes in the IRA Distribution Phase

RELATED CONTENT

New Tax Reporting Changes for IRA and Plan Distributions

The IRS has changed the line numbers for reporting IRA and employer plan distribution on Form 1040, U.S. Individual Income Tax Return. Advisors should make note of these changes, to help ensure that they can respond to related questions from clients.

How to Dodge the Top 3 Roth IRA Tax Traps

The promise of tax-free distributions is one of the primary reasons why an individual might choose a Roth IRA over a traditional account. But ‘premature’ distributions could cause a Roth distribution to be taxable.

5 Key Facts on the Roth IRA 5-Year Rule for Tax-Free Distributions

The five-year period is one of the requirements that must be met for a distribution from a Roth IRA to be qualified and therefore completely tax-free. When tracking this five-year period, one must have a clear understanding of which transaction starts the clock and which ones do not. One should also be aware of circumstances that accelerate the five-year clock for certain individuals.