RMD Archives - John R. Dundon II, Enrolled Agent
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RMD Tag

08 Dec

Posted at 20:58h in Tax Guidance & Preparation, Charitable Contribution, Child Tax, Children, Earned Income Tax Credit, Education Expense, Premium Tax Credit, RMD

As 2021 comes to a close, eight issues to watch for as you prepare to have your 2021 income tax returns filed: required minimum distributions (RMD); charitable contributions; child & dependent care credit; child tax credit; education benefits; qualified principal residence debt cancellation exclusion; premium...

22 Jun

Posted at 00:00h in IRA, Retirement, Tax Records, Taxable Income

Taxpayers who inherit IRAs also inherit the decedent’s basis or amount invested in those IRAs, regardless of the relationship between the beneficiary and the decedent. Ideally, the decedent will have filed IRS Form 8606 (Nondeductible IRAs), showing the amount of basis in the IRA. Any remaining basis in the IRA shown...

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