If you don't need your RMD for living expenses, you can keep it in a savings account or reinvest it. Donating your RMD to a charity can help you avoid paying taxes on that money. If you don't like ...
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Form 5498 documents individual retirement account (IRA) contributions, rollovers and distributions. You don’t need to fill it out or send it to the IRS — just keep it for your records. Many, or all, ...
Retirement accounts like the 401(k), 403(b), and traditional IRA are tax-deferred, meaning you get a tax break upfront (the ability to deduct contributions from your taxable income), but you must ...
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