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re: Congress is considering big changes to the way you retire
Posted on 8/10/19 at 8:34 pm to LSURussian
Posted on 8/10/19 at 8:34 pm to LSURussian
quote:
Why is that bullshite?
Are you dumb? It was a tax benefit used in estate planning to pass along inherited wealth. Instead of being able to “stretch” over the lifespan of the recipient it’s now 10 years.
Posted on 8/10/19 at 8:57 pm to OleWarSkuleAlum
quote:
put a 10-year time limit on how long non-spouse beneficiaries can stretch out an inherited IRA.
quote:No, but you are. That's been evident for years.
Are you dumb?
quote:Nope. That's only for a "spousal beneficiary."
Instead of being able to “stretch” over the lifespan of the recipient it’s now 10 years.
The proposed change that janky called "bullshite" is for a "non-spousal beneficiary."
Under current regs, in most cases a "non-spouse beneficiary" who inherits an IRA after the original IRA owner has begun taking distributions only has FIVE years to "stretch out" the IRA's amount. Under the proposal, that will change to TEN years. ETA: At least that's how I read the article you linked in your OP. All of the proposed provisions are better for IRA owners and beneficiaries.
So the change makes it better for someone who wants to make the IRA last longer.
Dumbass.
This post was edited on 8/10/19 at 9:03 pm
Posted on 8/12/19 at 9:19 am to OleWarSkuleAlum
quote:
It was a tax benefit used in estate planning to pass along inherited wealth.
It is called an Individual Retirement Account. It shouldn't be an Estate Planning Account. I don't understand all the fuss over this. These are the kind of loop holes and BS that give progressives teeth to do things like a Wealth Tax.
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