AdMail – Episode 42

In this week’s episode, IRA Financial’s Adam Bergman Esq. answers questions about converting to a Roth IRA, annual IRA statements, and using an RMD to pay for a Roth IRA conversion.

*Question 1 from YouTube: My husband and I both have S/D IRAs and we purchased a property that has built up cash from tenant rental income. Can we convert it to a Roth IRA? Is it wise? We purchased the property for $215, it’s worth $370, our ages are 63/67.

*Question 2 from YouTube: Does an IRA owner have to provide a once a year “statement” of their portfolio value to IRA Financial? If so, how is that statement provided if using decentralized products?

*Question 3 from YouTube: Your mistake #2 (on our Roth conversion video) states that it’s a bad idea to use part of the Roth conversion to pay tax, I get that. But how about using 100% of my RMD (which I’m required to do) to pay tax first, then do subsequent Roth conversion with my tax for the conversion already covered (from the RMD withdrawal)?

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About IRA Financial:

IRA Financial Group was founded by Adam Bergman, a former tax and ERISA attorney who worked at some of the largest law firms. During his years of practice, he noticed that many of his clients were not even aware that they can use an IRA or 401(K) plan to make alternative asset investments, such as real estate. He created IRA Financial to help educate retirement account holders about the benefits of self-directed retirement plan solutions.

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