My dad passed two years after creating a Roth IRA. In light of the Secure Act of 2019, is there any benefit to my waiting until 2024 when the Roth IRA will be five years old since its creation? If not, how do I determine the cost basis of IRA. It was a Schwab to Schwab transfer. I liquidated the individual stocks earlier this year and put the proceeds into a few ETFs.
You'll need to sign in or create an account to connect with an expert.
See Inheriting a Roth IRA as a Non-spouse in this web reference for a good explanation of your options:
https://www.investopedia.com/roth-ira-beneficiary-rules-4770500
I think you would obviously prefer to make your investments using a Roth account as opposed to a regular taxable account.
However, no deductions for capital losses if you screw up.
Still have questions?
Make a postDid the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.