mickeyd
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Proposed SECURE Act
The so called SECURE act is not law yet, both houses still have to agree and POTUS needs to sign it. However, it appears as though the "Stretch IRA" is doomed. This affects my kids and maybe yours too. Also, Roth subject to RMD.
The so called SECURE act is not law yet, both houses still have to agree and POTUS needs to sign it. However, it appears as though the "Stretch IRA" is doomed. This affects my kids and maybe yours too. Also, Roth subject to RMD.
-grab-in-the-secure-act/#582e550d3bbdIf there is any good news about the SECURE Act, it’s that it does not require your beneficiary to liquidate and pay tax on your entire Traditional IRA immediately after your death. For many people, that would be a costly nightmare because they would likely be bumped into a much higher tax bracket. Under the provisions of the SECURE Act, if you leave a Traditional IRA or retirement plan to a beneficiary other than your spouse, they can defer withdrawals (and taxes) for up to 10 years. (There are some exceptions for minors and children with disabilities etc.) If you leave a Roth IRA to your child, they will still have to withdraw the entire account within 10 years of your death, but again, those distributions will not be taxable.
https://www.forbes.com/sites/jlange/2019/06/11/the-hidden-money