5 Timing Rules You Need To Understand About IRAs
Owning an IRA would be a simple process if only the tax code was flexible to adjust for missteps. However, the tax code is not at all friendly so we need to be very aware of the timing issues that most often cause the most problems. Fortunately, Robert Powell was nice enough to document the 5 most important timing issues that we must be sure to keep in mind before we take any actions which could cause unfortunate consequences. Here are the five timing rules that he highlighted in the article:
• The age-55 penalty exception
• The five-year rule for 72(t) payments
• The five-year rule for Roth IRA conversions
• The five-year rule for Roth IRA qualified distributions
• The timing of non-spouse beneficiary RMDs
To read the specifics into any of these items, please click here to see the full article.
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