IRAs: Contributions and Distributions for Traditional, Roth, SEP, and SIMPLE IRAs

8:30 am–4:15 pm ET

# of CPE Credits



This comprehensive training is designed to get the accountant up-to-speed quickly with the different types of individual retirement accounts (IRAs). The cornerstone of the course is an in-depth coverage of the contribution and distribution rules to the Traditional, Roth, Simplified Employee Pension (SEP), and Savings Incentive Match Plan for Employees (SIMPLE) IRAs. The course will also discuss the basics of the health savings account (HSA) as well as any newly enacted tax legislation related to IRAs.


Once participants have completed this session, they should be able to * Form a partnership and calculate the partnership’s initial inside basis in the assets and partner’s outside basis in the entity * Prepare a basic partnership (Form 1065) Schedule K including the reporting of cash and noncash distributions * Understand how the Schedule K items get allocated to the partners/members on their individual Schedule K-1 * List the three main reasons for calculating a partner/member’s basis in a partnership/LLC * Calculate a partner/member’s outside basis and determine if losses and deductions are limited on their individual income tax return


* Each attendee will receive the most comprehensive IRA reference manual with numerous practice aids, examples, and required minimum distribution tables * Topics include but are not limited to * An emphasis on newly enacted tax legislation affecting IRAs including the those made by the Tax Cuts & Jobs Act (TCJA) * An emphasis on newly enacted tax legislation affecting IRAs * Contribution limits to and tax treatment of distributions from Traditional, Roth, SEP, and SIMPLE IRAs * Deductible phase-out limits for Traditional IRA contributions for taxpayers who are active participants in qualified retirement plans * Roth IRA contribution phase-out limits as well as tax-free qualified distributions * Planning opportunities for conversions to ROTH IRAs * Rollover rules to/from different retirement accounts and the one-rollover-per-year limitation * The different options of receiving IRA distributions before age 59½ and avoiding the 10% early distribution penalty (including substantially equal periodic payments) * The required minimum distribution (RMD) rules from IRAs needed to avoid the 50% penalty after the account owner turns age 70½ or dies * The tax ramifications of spouse and nonspouse beneficiaries and how this affects the RMD calculation after the account owner’s death * Overview of health savings account (HSA) eligibility rules, contribution limits, and distribution rules

Who Should Attend

Professionals who advise clients on all aspects of IRAs and want to maximize retirement plan contributions, minimize the taxes on distributions, and learn the ins and outs of distributions from these accounts

Required Knowledge


Advanced Prep

Background in individual and business income tax law

Event Speaker(s)

J. Patrick Garverick ( Garverick CPE, Goodyear, AZ ),

Additional Event Information

Technical Support
Contact NCACPA if you need assistance with your online program. For the quickest results, email the Online Learning Team at [email protected], and a team member will contact you shortly.

If you need assistance with internet access issues, browser capability, or when the NCACPA office is closed* please call Freestone Technical Support at 866-702-3278 or by email at [email protected] .

*NCACPA office hours are 9:00 am–5:00 pm ET. Online Learning Team members will be available via email 30 minutes prior to the start of a live online program.

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Also Available As

Friday, July 15, 2022 (8:30 am–4:15 pm ET)
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Friday, September 9, 2022 (8:30 am–4:15 pm ET)
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Thursday, October 13, 2022 (8:30 am–4:15 pm ET)
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Event Vendor:The Tax U
Field of Study:Taxes
Level: Intermediate

Event Type:Webcast
NASBA Instructional Method:Group Internet Based
Event Code:W0022822

Registration Fees

RegistrationEarly BirdRegular
NCACPA MemberN/A$260.00
CPE Sponsors LogoThe North Carolina Association of Certified Public Accountants is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org/.

For information regarding refund, complaint, program cancellation or other policies, visit our Registration Policies page or call 800-469-1352.