Talking about RMD. I am over 70s I have not been converting from my IRA to ROTH for the past 6 years. So I am free to withdraw my ROTH without paying taxes. Yesterday I decided to convert my 2020 RMD To ROTH. I regret afterwards because I heard that all my ROTH will be subject to 5 years rule and have to pay penalty and taxes if I withdraw less than 5 years. Is this true?
grandparents contribute Vanguard 529 to grand children set up by their father. Can we deduct from Income Tax or their father can deduct from income tax. We all live in Pennsylvania.Please advise. Thank you