like a 401(k), 403(b), or profit-sharing plan, arenotincluded in applying these IRA aggregation rules. In addition,under Treasury Regulation 1.408-8, Q&A-9, aninheritedIRA is not aggregated together with an individual’s own IRAs, nor is a Roth IRA...
The decedent's two IRAs were transferred to a new inherited IRA at his death. With respect to the new IRA allocated to the survivor's trust, the taxpayer had the right to distribute the new IRA or any part of it to the taxpayer. The taxpayer, as the surviving spouse, trustee, and ...
Just as there are various types of property, there are different types of interests in property. Interests in real property include freehold estates and non-freehold estates. Freehold estates are ownership interests that have no expiration and can be inherited. Non-freehold estates, or leasehold...
Inherited annuities Did you inherit a qualified annuity? It will be treated as any other inherited retirement account. A spouse can treat the retirement account as their own and potentially defer distributions and taxes. In the case of other beneficiaries, the annuity will be taxed when distributio...
tax-free distributions. The first is the same as the Roth IRA: the account must have been open for at least five tax years. The second requires the account holder to be at least 59½ years of age, permanently disabled, or taking withdrawals from an inherited account. Whether or not you...
Clients with significant cryptocurrency holdings may also wish to consider trust planning techniques, such as a spousal lifetime access trust (SLAT) which can remove the cryptocurrency from their estate for the benefit of a spouse and other heirs. Cryptocurrency assets that are inherited receive a ...