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Will Biden admin negatively affect IRA’s or Annuities money
Posted on 11/25/20 at 11:55 am
Posted on 11/25/20 at 11:55 am
I’ve seen articles about 401k accounts where the tax savings is removed.
What about accounts for those that have retired that have been converted to IRA’s and annuities?
What about accounts for those that have retired that have been converted to IRA’s and annuities?
4
Posted on 11/25/20 at 12:07 pm to zuluboudreaux
Maybe. Maybe not. Who could possibly know what will or will not happen?
Posted on 11/25/20 at 12:07 pm to zuluboudreaux
c’mon man
Posted on 11/25/20 at 12:08 pm to cgrand
It's every day now.
Just hold tight for now and let's see what happens people
Just hold tight for now and let's see what happens people
This post was edited on 11/25/20 at 12:09 pm
Posted on 11/25/20 at 12:12 pm to castorinho
quote:
It's every day now.
This is starting to get just silly now
Posted on 11/25/20 at 12:13 pm to zuluboudreaux
I doubt retirement vehicles will be messed with.
What I do see happening is the elimination of a stepped up cost basis at death in non-qualified account.
What I do see happening is the elimination of a stepped up cost basis at death in non-qualified account.
Posted on 11/25/20 at 12:22 pm to Shepherd88
quote:What does that mean?
What I do see happening is the elimination of a stepped up cost basis at death in non-qualified account.
Posted on 11/25/20 at 12:29 pm to nctiger71
quote:
What does that mean?
Currently when someone inherits stock from the deceased, their cost basis for tax purposes is bumped up to what they received the stock as.
So if your dad has 100 shares of Company X that he bought for $10/share, and when he dies you inherit the stock at $100/share - your cost basis for tax purposes is $100/share. What the poster is saying is he thinks this will go away, and thus you would inherit the stock at a cost basis of $10/share. I don’t really know one way or the other if this is on the horizon, just offering an explanation
Posted on 11/25/20 at 12:37 pm to Tigerfan56
Got it, thanks.
Posted on 11/25/20 at 9:31 pm to zuluboudreaux
quote:
Biden admin
Who Dat?
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