By Ian Berger, JD
IRA Analyst
Question:
My question relates to an IRA withdrawal that is then deposited as a Roth conversion. Will this withdrawal count as a once-per-year IRA rollover?
Thanks in advance for your wonderful advice.
Regards,
Peter
Answer:
Hi Peter,
Thanks for the kind words. Roth conversions are not subject to the once-per-year rollover rule. Only traditional IRA-to-traditional IRA and Roth IRA-to-Roth IRA rollovers count.
Question:
My question is about the Uniform Lifetime Table. I started taking my lifetime RMDs in 2018 when I was age 70-1/2. So, for this year (I will be 74) I would be using the divisor of 23.8 using the old Uniform Lifetime Table. My questions is: Do I keep using that table, or should I use the new 2022 RMD Uniform Lifetime Table, therefore making the divisor 25.5?
Sincerely,
Gary
Answer:
Hi Gary,
You should switch to the new Uniform Lifetime Table and take advantage of the longer life expectancies, in your case, 25.5 for 2022. This will result in a slightly lower annual RMD.
https://www.irahelp.com/slottreport/once-year-rollover-rule-and-new-life-expectancy-table-today%E2%80%99s-slott-report-mailbag