Financial Tips

Test Your Knowledge of Qualified Transfers
(Updated: 03/09/2020)

When you gift money to another person, a gift tax may apply, unless there is an annual gift tax exclusion or lifetime gift tax exemption available. To avoid this tax, an alternative option is to give money through a qualified transfer, also known as a non-gift gift. Qualified transfers are not subject to gift tax or generation-skipping tax, and they do not reduce your annual gift tax exclusion or your lifetime gift tax exemption.

True or False?

Qualified transfers are limited to $15,000 annually per person.


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Fact vs. Fiction

We understand that it can be tricky navigating the world of personal finance. Everyone seems to have an opinion, and it can be hard to know what to believe. We created this series as a way to present and debunk some of the most common financial myths.

Fiction: I can only invest my IRA contributions in traditional assets that my advisor offers.

Fact: Although traditional and Roth IRAs are restricted to assets that IRA custodians offer (e.g., stocks, bonds, mutual funds, exchange-traded funds), a self-directed IRA allows you more flexibility in where you can invest. These include precious metals, real estate, debt instruments, digital currencies, and businesses. There are many rules and regulations surrounding these types of investments, and it’s important to have a thorough understanding of the risks before moving forward. They could be a great way to further diversify your portfolio if used as part of a well-rounded retirement strategy.

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Last Updated: 03/30/2020