IRAs: Opportunities Under the Taxpayer Relief Act of 1997

Shanney-Saborsky, Regina
April 1998
Journal of Financial Planning;Apr98, Vol. 11 Issue 2, p26
Academic Journal
The article examines several tax-related issues pertaining to individual retirement accounts (IRA) that financial planning professionals should be aware of in the wake of the Taxpayer Relief Act of 1997 in the U.S. The tax issues include the modifications to the traditional IRA rules as well as the addition of the Roth IRA and the education IRA, the repeal of the excess distribution and excess accumulation excise taxes, and the ability to roll over traditional IRAs and qualified plans into the Roth IRA. The 1997 Act increased the adjusted gross income limits for 1998 for the deductibility of contributions to an IRA.


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