In the Divorce He Signed $400,000 of His IRA Over to Her. No Tax, No Penalty, No Withdrawal on Anyone’s Return, Because the Tax Code Has a Line for Exactly This, and It Isn’t a QDRO
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The post In the Divorce He Signed $400,000 of His IRA Over to Her. No Tax, No Penalty, No Withdrawal on Anyone’s Return, Because the Tax Code Has a Line for Exactly This, and It Isn’t a QDRO appeared first on 24/7 Wall St..
If you own a traditional IRA and are going through a divorce, the tax code lets you transfer part or all of the account to your spouse without income tax or the 10% early withdrawal penalty for either of you. The rule is called an IRA transfer incident to divorce,
If you own a traditional IRA and are going through a divorce, the tax code lets you transfer part or all of the account to your spouse without income tax or the 10% early withdrawal penalty for either of you. The rule is called an IRA transfer incident to divorce,
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