An heir will typically have to move assets from the original owner’s account to a newly opened IRA in the heir’s name. For this reason, an inherited IRA may also be called a beneficiary IRA. Anyone can inherit an IRA, but the rules on how you must treat it differ depending on whet...
an inherited (beneficiary) IRA. Instead of assuming the IRA, the IRA can be re-registered as an inherited IRA in your name. Whether or not this makes sense for you depends on the type of IRA you have inherited (traditional or Roth), your decedent spouse's age, and the RMD rules. ...
The recipient of an inherited IRA may or may not pay taxes depending on their situation. In general, if you inherit a Roth IRA, you're free of taxes. However, if you inherit a traditional IRA, any amount withdrawn is often subject to taxes. On the other hand, estates subject to the ...
, as well as if you were a sole beneficiary or one of multiple beneficiaries 3 the original account owner’s date of birth and date of death – these details determine how the inherited rmd is calculated 4 the year-end balance for the account – you'll need to get this information from...