New IRS rules for inherited IRAs became effective last year. Pay attention to avoid a 25% penalty and a "tax bomb".

Unlike with traditional IRAs, Roths do not provide tax savings, so anyone converting such funds to a Roth must pay federal income taxes on the amount converted.

An IRA conversion can give you a leg-up in retirement with tax-free income. But proceed with caution.

Open an Inherited IRA, Life Expectancy Method: Your spouse may transfer assets into an Inherited IRA or an Inherited Roth IRA. Choosing this option means your spouse must begin taking RMDs by Dec. 31 ...

Inheriting an IRA from a parent comes with a unique set of rules. Understanding them can help you make the most of the money ...

There are two 5-year rules: One for contributions and the other for conversions. A subset of rules exists, based on your age. It’s important to know which qualified expenses allow you to withdraw ...

How much tax you owe on an individual retirement account (IRA) withdrawal depends on your age, the type of IRA, and other ...

Oh boy! Did I get your attention? You say, “But Kelly! I thought all Roth IRA distributions were tax free!” I say, “Not so fast, Sparky.” This is embarrassing. I used to think like you. Then I got my ...

With a Roth IRA, you contribute after-tax dollars, so there is no tax deduction when you put money in. The benefit comes later because your investments grow tax-free and qualified withdrawals in ...

Quick Read IRMAA surcharges start at $109,000 income for single filers in 2026. High earners pay up to $487 extra monthly.