Qualified Charitable Distributions and Inherited IRAs: Today’s Slott Report Mailbag
By Sarah Brenner, JD Director of Retirement Education Question: If a grandchild, age 30, inherits IRA assets from her grandparent, age 92, and has to take required minimum distributions (RMDs) from the inherited IRA, can she send those RMDs directly to charity and not be subject to tax? Chris Answer: Hi Chris, It sounds […]
The Wonderful, Magical Form 5498
By Andy Ives, CFP®, AIF® IRA Analyst In a scene from “The Simpsons,” daughter Lisa announces she has become a vegetarian. Homer asks some probing questions. “Are you saying you’re never going to eat any animal again? What about bacon? Ham? Pork chops?” When Lisa says that all those come from the same animal, […]
IRS Addresses Unanswered Questions About Trump Accounts
Ian Berger, JD IRA Analyst As is often the case with new legislation, the One Big Beautiful Bill Act (OBBBA) left unanswered a number of questions about Trump Accounts, the new savings vehicle for children. Some of those questions were discussed in a Slott Report article from August 6, 2025. On December 2, 2025, the IRS […]
First-Time Required Minimum Distributions and Qualified Charitable Distributions: Today’s Slott Report Mailbag
By Andy Ives, CFP®, AIF® IRA Analyst QUESTION: My client turns age 73 in November 2026. If he takes his first required minimum distribution (RMD) in December 2026 rather than waiting until April 1, 2027, what balance is used to do the RMD calculation? Thanks ANSWER: Since his first RMD is for 2026, he will […]
New IRS Guidance on Trump Accounts Is Released
Sarah Brenner, JD Director of Retirement Education The IRS has issued guidance on Trump Accounts, which are new tax advantaged accounts for children established as part of the One Big Beautiful Bill Act (OBBBA). Trump Accounts are scheduled to become available as soon as July 4, 2026. Notice 2025-68 provides answers to some questions about how […]
Yes, RMDs Apply to Inherited Roth IRAs, But…
By Andy Ives, CFP®, AIF® IRA Analyst We have written about this topic in The Slott Report before (“Inherited Roth IRA: RMDs or No?” – May 15, 2023), yet the questions continue to roll in. Yes, required minimum distributions (RMDs). DO APPLY to inherited Roth IRAs. However, recognize that there are a number of variables and […]
Stretch RMDs and Roth Conversions: Today’s Slott Report Mailbag
Question: Hello Ed, I have been a fan of yours for a long time (and the owner of a copy of The Retirement Savings Time Bomb) and have always appreciated your insights. We have a client who is age 58 years and is the sole beneficiary of a traditional IRA of a non-spouse relative (sister) […]
The Crazy-Complicated 2026 SIMPLE IRA Plan Elective Deferral Limits
Since 2002, SIMPLE IRA plans have allowed employees who reach age 50 or older by the end of the year to make “catch-up contributions” beyond the usual elective deferral limit. Beginning in 2024, Congress automatically increased the regular and catch-up contribution limits for smaller (25 employees or fewer) SIMPLE IRA plans. These higher deferral […]
Who Needs to Take a 2025 RMD?
As the calendar runs out on 2025, retirement account owners and beneficiaries may face a looming deadline. December 31 is the deadline for many to take 2025 required minimum distributions (RMDs). Test your knowledge of RMDs with our quiz. Who needs to take a 2025 RMD by December 31, 2025? Answers can be found […]
The Slott Report Gives Thanks
Thanksgiving Season is upon us! Here at The Slott Report, we are thankful for many things: We are thankful to have a platform to share all the important IRA and retirement account information about which we write. We are thankful that we have an audience of diligent Slott Report readers who are continuously searching for the correct […]