Roth IRAs: Taxation of Distributions FLEXCAST
Available Until
Your Desk
1.0 Credits
Member Price $49.00
Non-Member Price $56.00
Overview
A Roth IRA has certain tax characteristics that incentivize eligible taxpayers to establish and fund their own Roth IRAs whenever possible. Unlike a traditional IRA, contributions to Roth IRAs are never deductible. However, if an individual satisfies certain requirements, qualified distributions from a Roth IRA are tax-free. An eligible individual can make contributions to his or her Roth IRA after age 72 as, unlike traditional IRAs there is no age limit for making regular contributions. Additionally, the owner can leave amounts in his or her Roth IRA if he or she is alive without taking any distributions, as Roth IRA owners are not subject to the required minimum distribution (RMD) rules that apply to traditional IRAs. Although non-spouse beneficiaries of Roth IRAs must take RMDs, such distributions are not taxable if qualified; and only the earnings are taxable if the distribution is nonqualified.
Highlights
Tax Treatment of Distributions. Qualified vs Nonqualified. Custodian’s Tax Reporting.
Prerequisites
None.
Designed For
CPAs and other tax professionals.
Objectives
The primary ways in which Roth IRAs can be funded. What makes a Roth IRA distribution qualified. The ordering rules for Roth IRA distributions and when they should be used. The tax reporting requirement that an IRA custodian should meet for a Roth IRA distribution.
Preparation
None.
Notice
This is a FlexCast (no exam required) and may be viewed only Monday - Saturday, 5am - 5pm PT. You may take up to one year from the date of purchase to complete the course. Pause your FlexCast and resume at a convenient day during the hours above. Partial credit for 2+ credit courses: If you are unable to complete the course in one sitting, partial credit can be awarded (minimum of one credit). To earn the remaining credits, you must return later and start the course from the beginning. Use chat to ask questions of a subject matter expert during the program.
Leader(s):
- Denise Appleby, Western CPE
Non-Member Price $56.00
Member Price $49.00