Tag: IRA

Inherited IRAs

I recommend using this format: John Smith IRA/ Deceased 1/1/2009/ FBO (for the benefit of) Mary Smith as beneficiary. Make sure that the financial institutions gets the titling right not only on the statements it sends to you, but also on the...

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Converting to a Roth IRA

In 2010 the income limitation for converting traditional IRA to a Roth IRA will be eliminated. Furthermore, one half of the conversion income can be reported in 2011 and the final one half of conversion income can be reported in 2012. Whether...

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