#118 - Q&A edition...Itemized sales tax deductions, pension vs lump sum, surviving spouse tax increases and MORE!

Retirement Planning Education, with Andy Panko

Listener Q&A where Andy talks about:

• Itemizing sales taxes on Schedule A of your tax return, particularly when living in two states during the year ( 6:30 )
• Considerations when deciding between taking a pension or its lump sum ( 11:51 )
• Should a recently widowed person take advantage of their last year of Married Filing Joint tax brackets and do a large Roth conversion or IRA distribution ( 25:03 )
• Understanding the pro rata rule when doing a Roth conversion when you have multiple IRAs and a 401(k) ( 31:40 )
• How the IRS knows if you didn't take Required Minimum Distributions ("RMDs") when you were supposed to ( 37:02 )
• How to ensure your Treasury interest received (including when received indirectly through a money market mutual fund) is properly reported as tax-free on your state tax return ( 41:36 )

To send Andy questions to be addressed on future Q&A episodes, email [email protected]
Links in this episode:

• IRS sales tax deduction calculator - here
• Rob Berger's YouTube channel - here

• My company newsletter - Retirement Planning Insights
• Facebook group - Retirement Planning Education (formerly Taxes in Retirement)
• YouTube channel - Retirement Planning Education (formerly Retirement Planning Demystified)
• Retirement Planning Education website - www.RetirementPlanningEducation.com