20 Comments

1. 

   Sky123 on August 18, 2022 at 9:42 am

   Why use 3rd party source to interpret law change and spread confusion?

2. 

   H B on August 18, 2022 at 9:42 am

   I was 46 y/o Inherited IRA started 2010 got upset way before Dec 2018 correction with my high-cost broker. I am still praying for no audit because with the click of the mouse, I transferred the inherited IRA to my individual like a doofus. So far coast is clear!

3. 

   Kathleen McDaniel on August 18, 2022 at 9:42 am

   Does this still apply if say siblings take their portion of the benefit from a parent out of the original account and roll it directly into inherited IRA accounts?

4. 

   Kevin Kuc on August 18, 2022 at 9:42 am

   Goes to show you the government can change the rules at any point to stick it to you. Mark my words Roth will be next! They all suck.

5. 

   myvenusheeler on August 18, 2022 at 9:42 am

   These damn people in Washington can't even get this right.

6. 

   Rebecca Thompson on August 18, 2022 at 9:42 am

   Good information Josh. My mom passed Jan 2020. Small inherited IRA. I will check with tax accountant.

7. 

   tbody43 on August 18, 2022 at 9:42 am

   I believe the "Stretch Rule" was grandfathered for recipients as long as the deceased passed prior to 1/1/2020.

8. 

   Bruce Smith on August 18, 2022 at 9:42 am

   Thanks for the update Josh.

9. 

   Josh Ford on August 18, 2022 at 9:42 am

   Wondering if you could do a video on a topic. Does roth ira after tax distributions count as income as it relates to the long term capital gains tax brackets. So if I have 75000 distribution from my roth ira, and want 25000 distributed under long term capital gain from a taxable brokerage account is that income and bump me out of the 0 percent capital gain tax bracket. Or can I pull an infinite amount out of my roth ira as long as I stay under the 78k income limit with my taxable distributions?

10. 

    Images InLA on August 18, 2022 at 9:42 am

    Most articles out there say you don't have to take RMD's, but must empty the account by the 10th year.
    The Fidelity website says you don't have to take RMD's, but inherited Roth IRA's do require annual RMD's.
    I still haven't been able to find the section on the IRS website that says yearly RMD's will be required as per Ed Slott's article (has anyone seen it?).
    Also wondering if this whole Secure Act might be reversed by the new presidential administration?????

11. 

    young timer on August 18, 2022 at 9:42 am

    I guess I’m not surprised by this. At least they pushed RMD’s out to age 72. That helps.

12. 

    Jeremy Rhodes on August 18, 2022 at 9:42 am

    Just more red tape.

13. 

    David Mason on August 18, 2022 at 9:42 am

    This is a ridiculous interpretation of the law by the IRS. Nothing but forcing people to stack all those RMD's on top of existing earnings (most likely while they're still working), forcing them into a higher tax bracket. Hopefully the final rule will reverse this, but not holding my breath.

14. 

    ModernCicero on August 18, 2022 at 9:42 am

    They are growing desperate for revenue!

15. 

    Tor Eckman on August 18, 2022 at 9:42 am

    Another reason for Roth conversions. But just a matter of time before they go after Roths.

16. 

    Andrew Ulrich on August 18, 2022 at 9:42 am

    We'll have to bring this up with our financial advisor. He was originally under the impression when my wife inherited a IRA that we could wait until 2029 and then pull her moms IRA out.

17. 

    Canyon Overlook on August 18, 2022 at 9:42 am

    I won't be inheriting an IRA so it doesn't matter to me. My parents don't have one. I am not worried about who inherits mine if there is anything left.

18. 

    Glenn Woodle on August 18, 2022 at 9:42 am

    Why make it so complicated? Why not take 10% a year for 10 years. Easy to calculate having the same amount per year.

19. 

    Alberto Santa Barbara County CA on August 18, 2022 at 9:42 am

    This screws the long term middle class and reduces wealth mobility opportunities.

    IMO, this is part of the End of Life Planning and should be addressed by CFPs. Monte Carlo projections is no longer sufficient to claim you won't run out of money. There is a Estate Planning portion of a Financial Plan thst must be addressed in early and later retirement.

20. 

    Ed in North Carolina -- O Velho Gringo on August 18, 2022 at 9:42 am

    Once again the Middle Class gets it in the kiester. I'm beginning to think that the 401k and IRA were tax traps.