Today we will update you on the most recent changes to the RMD rules that the IRS just made without going through congress. We will focus on RMD rules for all accounts but in particular, the inherited IRA’s since they have had many changes recently. With the new 10-year stretch rule and the ability to return RMD distributions already made this year this is one that could save you a ton of dough!
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Thanks Dustin
No closing beat??? Wtf. You ok Dustin?
Have concerns for inherited ira, any worthwhile ways to lower the tax burden, since the lifetime stretch is gone?
Apparently you can’t get the withholding back if you paid it so that needs to be factored in. C’est la vie. Bit of pain for taking it in January
Good on you man, many blessings
Always great info
In 2 years I will have to start taking RMDs on my modest IRA. New York State doesn't tax up to $20k of any IRA distribution (due to my income level and no pensions and maybe other reasons). I will also be in the 12% bracket.
My main job will be to get my IRA out of hock. First with Roth conversions only and in two years a RMD followed by a RC to the same total of $20k. (I have money in my taxable accounts to pay the taxes).
I made all my what-if spreadsheets and near the end of the year, I'll make the move.
Thanks for the great videos, Dustin.
The tax man won’t like this.
DO SOME DAMN EXERCISING YA LAZY GUY WE APPRECIATE YOU A LOT THO