Apr 6

4 comments so far...

  • smartypants909 Said on April 6th, 2010 at 5:43 pm:

    Depending on your income bracket, inheritance taxes can be as high as 45%.

  • ironhyde51 Said on April 6th, 2010 at 6:07 pm:

    It depends on your situation. Your best bet is to see a tax advisor, for that question. They’ll direct you to IRS publication 590, which is all about IRA’s. Or just look up publication 590 from IRS.gov.

  • Screaming Eagle Said on April 6th, 2010 at 6:59 pm:

    If your spouse gets your IRA, she can roll it over into hers, and not pay any taxes. Someone else will have to take minimum distributions.

    You really need to check with a tax expert though.

  • derek Said on April 6th, 2010 at 7:21 pm:

    IRAs are taxed as income, regardless of whether you withdraw the money or your heirs withdraw it….not to mention they are part of your estate and could cause an estate tax problem (yuck).

leave a reply

Powered by Yahoo! Answers

Page Ranking Tool