The difference between an IRA conversion and an IRA recharacterization
contribution can be confusing to accountholders and tax advisors. The allowable
methods to correct excess contributions and the deadlines to avoid can also be
perplexing and difficult to explain. In addition, recent tax legislation has
eliminated the ability to recharacterize IRA conversions and retirement plan
rollovers made on or after January 1, 2018. This session will demystify IRA
conversions, recharacterizations, and excess contribution corrections and give
you the knowledge to confidently handle IRA owner questions and requests.
- Difference between a conversion and a
- How to properly report conversions and
- How recent tax legislation affects conversions and
retirement plan rollovers
- Difference between a true and deemed IRA excess
- How to properly correct and report IRA excess contributions
- Penalties for failing to correct IRA excess contributions in a timely
Frank J. LaLoggia, LaLoggia Consulting, Inc.
Live and recorded webinar, handouts, quiz with answer key and training log are included.