Inherit a Parent’s $220,000 IRA in November and Their $10,000 RMD for the Year Hasn’t Been Taken, and It Falls to You: Taxed as Your Income, in a Year You Didn’t Plan For
Source ↗
👁 0
💬 0
The post Inherit a Parent’s $220,000 IRA in November and Their $10,000 RMD for the Year Hasn’t Been Taken, and It Falls to You: Taxed as Your Income, in a Year You Didn’t Plan For appeared first on 24/7 Wall St..
An adult child who inherits a parent’s $220,000 traditional IRA in November may learn that the parent never took the $10,000 required minimum distribution (RMD) due for that year. Under IRS rules, the heir must take that withdrawal. Whatever comes out is taxed as
An adult child who inherits a parent’s $220,000 traditional IRA in November may learn that the parent never took the $10,000 required minimum distribution (RMD) due for that year. Under IRS rules, the heir must take that withdrawal. Whatever comes out is taxed as
Comments (0)