Consolidating inherited iras

'” says Choate, the author of the retirement-plan guide, “Life and Death Planning for Retirement Benefits.” ADVISER SEARCH: If you’re not sure what to do with that inherited IRA, don’t shortchange yourself.

The following combinations are permitted: Sam inherited an IRA from his Aunt Suzie.

People who have more than one IRA should at least consider consolidating to make the investments easier to manage.

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Consolidating inherited iras

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In March 2013, he contacted his IRA custodian for assistance with calculating his RMD.

The custodian used Michael\'s previous year-end FMV of 0,000 and his distribution period of 23.8.

Michael is required to adjust his previous year-end FMV by the recharacterized amount.

This would make his RMD approximately ,605 - a ,403 difference.

You can convert a traditional IRA or a 401(k) to a Roth, but you’ll owe income tax on the conversion, so talk to a tax pro first.

You also can roll over old 401(k) and other qualified workplace retirement plans into a traditional IRA.

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Bankrate recommends that you seek the advice of advisers who are fully aware of your individual circumstances before making any final decisions or implementing any financial strategy.

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