Few people would complain about receiving an inheritance, including one in the form of an IRA. However, there are some rules ...

Inherited IRAs pose a number of new challenges, due to the SECURE Act of 2019 and updated IRS guidelines regarding RMDs.

Understanding the tax implications of inherited monies is critical. As you may inherit some of each, here’s a general summary: · Traditional IRA distributions are taxed as ordinary income at ...

Take a lump sum. As long as you’ve owned the inherited IRA for five years you can take a lump sum distribution. The money will be treated as ordinary income but you won’t be subject to the 10% ...

Before the Act, non-spouse beneficiaries could stretch distributions over their lifetime, allowing the funds to grow tax-deferred for decades (thus the term “stretch IRA”). Now, most ...

given every dollar distributed from an inherited IRA is taxed at ordinary income rates," Wiley said. It might seem like the best way to address the tax obligation would be to spread distributions ...

With all of the significant changes governing required minimum distributions ... as a retirement account beneficiary—but that doesn’t mean the inherited IRA funds will automatically be ...

But what if the story is not true? If a distribution was made from your IRA during 2024, your IRA custodian must send you a Form 1099-R for that transaction by Jan. 31. Form 1099-R information is ...