Your mom should put the tax-deferred money (check) into a traditional IRA. The post-tax check needs to go into a Roth IRA. (Why would someone want to pay taxes again on an account holding post-tax money?)
After the transfers have been deposited, then she can take the RMDs for him for 2023 based on his age. Then she can take the RMDs for 2024 based on her age.
After the transfers have been deposited, then she can take the RMDs for him for 2023 based on his age. Then she can take the RMDs for 2024 based on her age.
Statistics: Posted by celia — Thu Jan 04, 2024 4:08 am — Replies 5 — Views 400