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Financial Planning / Tax Strategies


Subject:  Re: Tax handling of gifts under the annual exemp Date:  3/25/2014  9:00 PM
Author:  Wradical Number:  120581 of 130757

It maybe your responsibility, but brokers do limit the ability to do a conversion until the RMD has been taken.

Affirm that, if you are required to take a Required Minimum Distribution, you have done so for the current year pursuant to
Section 401(a)(9) of the Internal Revenue Code with respect to your Fidelity IRA prior to this conversion, and you accept full responsibility for complying with these requirements.

Strikes me as hyper-cautious on their part, considering that the account holder can have multiple IRAs with multiple custodians, and multiple accounts with Fidelity, and only want to convert part of one particular account.

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