Wash Sale Rules, Roth Conversions, and RMDs: Q&A #2244

October 29, 2022

Wash Sale Rules, Roth Conversions, and RMDs: Q&A #2244

Chris and in-house CPA, Bob Palechek sit down to discuss listeners questions relating to wash sales, Roth conversions, and required minimum distributions (RMDs).

(6:00) George from California wonders if he can sell funds at a loss in his brokerage account and immediately repurchase identical shares in a Roth IRA to avoid the wash sale rule.

(14:00) George from Connecticut asks about recharacterizing Roth IRA contributions to a traditional IRA before eventually backdooring the contributions back into their Roth IRAs.

(26:30) A listener asks if waiting to do a Roth conversion in Texas instead of California makes more sense from a tax perspective.

(42:00) George from Tennessee looks for advice on how to determine the optimal amount for a Roth conversion in a down market.

(54:30) A listener looks for clarification on when an RMD is taxable in the case of a decedent.

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Jim Saulnier and Associates | 970-530-0556 | 506 East Mulberry Street, Fort Collins, Colorado 80524

Ed Slott Advisor recognition requires an advisor to be well versed on the rules and regulations regarding IRAs. The advisor must attend two live training sessions and pass two written exams annually to remain in the program. Jim Saulnier & Associates, LLC (“RIA Firm”) is a registered investment adviser located in Fort Collins, CO. Jim Saulnier & Associates, LLC may only transact business in those states in which it is registered, or qualifies for an exemption or exclusion from registration requirements. Current registered states: CA, CO, PA, TX, WA, IL Insurance products and services are offered and sold through James H. Saulnier, a Colorado licensed insurance producer, only in those states in which he is reciprocally licensed or qualifies for an exemption or exclusion from licensing requirements. Current reciprocal insurance licensing in these states: AZ, CA, CA, CN, FL, HI, IA, MA, MD, NY, PA, SC, TN, TX, VA, WA, WI, WY Click here for a more detailed disclosure.