Nonspouse beneficiaries must empty their inherited IRA accounts within ten years of the original account holder’s death. Annual RMDs are required for nonspouses if the original account holder had already started taking RMDs before their death. Due to confusion, the IRS waived annual RMDs for the...
An IRA transfer and rollover involve moving money from one account to another. But there are some subtle differences between them. An IRA transfer moves money from one IRA directly into another without the need to liquidate the original account. In most cases, the transfer moves the money from...
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A man and his family inherited anestatefrom the man's father when he passed away. The estate was valued at $7.7 million and they had to pay taxes on it. However, the real estate prices took a dive and they were only able to get less than half of the original value from the estate...