Manage episode 281343849 series 2501672
Jim and Chris answer listeners’ questions and discuss topics relating to taxes, Roth conversions, Roth contribution rules, hardship exceptions, and inherited IRAs.
(8:00) Bob, our in-house CPA, provides a talking point about skipping RMDs in 2020 and the possibility of a delayed tax penalty for those who withhold taxes in 2021.
(12:30) A colleague of Jim and Chris asks a question looking for clarification on the rules of Roth conversions.
(23:50) George from Washington asks how many times in one year he can move after-tax money from his 401k plan into a Roth IRA.
(28:00) A listener asks for help on a 60-day rollover and the rules about returning contribution amounts after distributing money to purchase an asset.
(40:30) An Ohioan listener wonders what exactly qualifies as an economic hardship exception in relation to 401k plans.
(53:00) A listener from Georgia asks about the distribution rules for inheriting an inherited IRA.
The post Taxes, Roth Conversions/Contributions, Hardship Exceptions, and Inherited IRAs: Q&A #2101 appeared first on The Retirement and IRA Show.