I received RMD funds from my IRA in 2023. I there a way to avoid being taxed on this? Can I put the funds into a Roth IRA or some other tax shelter account?
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I received RMD funds from my IRA in 2023. I there a way to avoid being taxed on this? Can I put the funds into a Roth IRA or some other tax shelter account?
I received RMD funds from my IRA in 2023. I there a way to avoid being taxed on this? Can I put the funds into a Roth IRA or some other tax shelter account?
A distribution from an IRA cannot be used to contribute to another Traditional IRA or Roth IRA.
Only if you received taxable compensation would you be able to fund an IRA or Roth IRA.
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