Revisiting Roth IRA Conversion Strategies - 269

Your Money, Your Wealth

Realestate, Income, Investing, Personalfinance, 401k, Rothconversion, Retirement, Education, Taxes, Socialsecurity, Personalfinances, Finance, Retirementplanning, Investments, Stocks, Business, Roth, Fiduciary, Ira

2.3 • 681 Ratings

🗓️ 14 April 2020

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

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Summary

Roth IRA conversion pro-rata rule considerations with RMDs on an inherited IRA, tax bracket planning to account for the loss of a spouse, and the state income tax impact on Roth conversions. Plus, earnings on a reversed excess IRA contribution, how dollar-cost averaging affects capital gains tax first in, first out (FIFO) rules, zero-coupon bonds, whether to use the brokerage option in your 401(k) and more. Send in money questions, read the transcript & access free financial resources: http://bit.ly/YMYW-269

Transcript

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0:00.0	So right before the pandemic sent us all home, the YMIW email inbox was jammed full of Roth IRA conversion questions and a lot of others.
0:08.3	And honestly, that's not uncommon.
0:10.2	Today on your money, your wealth, we're going back to the days when we could all be in the same room together
0:14.7	when Joe and Big Al answered a bunch of those questions and more.
0:18.4	They'll break down the pro rata rule on Roth conversions with an inherited
0:21.8	IRA, contribution and conversion limits, Roth conversion tax bracket planning to account for the loss
0:27.6	of a spouse, and the state income tax impact on conversions. The fellows also discuss what to do
0:33.1	about earnings on a reversed excess IRA contribution, the effect that dollar cost averaging has on the
0:39.5	first in, first out, or FIFO rules for long-term and short-term capital gains tax, zero
0:44.1	coupon bonds, whether to use the brokerage option in your 401K and more. I'm producer Andy Last,
0:50.2	and here are the hosts of Your Money, Your Wealth, Joe Anderson, CFP, and Big Out Clopline CPA.
0:56.7	Dave writes in with no location given.
1:01.0	So next time he writes in.
1:03.8	Yeah, I thought you were going to say fail.
1:05.9	He did fail.
1:07.5	But it's interesting because he goes, hello YMIW team.
1:13.3	He's got to be a listener.
1:15.5	Yeah.
1:16.7	That goes YMYW.
1:18.3	Yeah.
1:18.7	Your money or wealth, but he doesn't give a location.
1:21.5	So interesting.
	...

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