Inherited IRAs come with complications for heirs beyond the required payouts. You can’t convert an inherited traditional IRA to a Roth IRA. You can’t add money to an inherited IRA. And you can’t combine an inherited IRA with your own IRA. Some IRA custodians, including Schwab and Vangu...
In 1997, the Roth IRA was introduced. Since then, many people have converted all or a portion of their existing traditional IRAs to a Roth IRAs, where interest earned may be completely tax-free. Is this a good option? A conversion has advantages and disadvantages that should be carefully co...
“It might make sense to roll 100%, but most likely an IRA owner would benefit from spreading the distributions over a period of years,” McGowan said. What’s more, a sizable rollover with a big tax bill could also lead to a higher Medicare premium, so consul...