How can I avoid penalties for late withdrawal of an inherited IRA?
Source ↗
👁 1
💬 0
Dear Liz: I inherited my father’s IRA through a trust in 2010. Unbeknownst to me at the time, I’ve now found out I should have taken that money out over the following years, but I didn’t.
I turned 73 in May of this year, and I’d like advice on what I should do with that account.
A: Get thee to a tax pro. You’ve got some distributions to make, taxes to pay and penalties to mitigate.
Today’s rules for inherited IRAs require most non-spouse beneficiaries to empty the accounts within 10 years, thank
I turned 73 in May of this year, and I’d like advice on what I should do with that account.
A: Get thee to a tax pro. You’ve got some distributions to make, taxes to pay and penalties to mitigate.
Today’s rules for inherited IRAs require most non-spouse beneficiaries to empty the accounts within 10 years, thank
Comments (0)