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The post How the 10-Year RMD Rules Work for Inherited IRAs appeared first on SmartReads by SmartAsset. ... required minimum distribution (RMD) age. ... income tax rates on distributions. Although ...
The Secure Act changed the rules on inherited IRAs. Instead of being able to stretch out the withdrawals across your lifespan, you now only get 10 years on newly inherited IRAs to deplete the account.
2. Inherited IRAs may be subject to RMDs. The Secure Act changed several rules on inherited IRAs when it passed in 2019, but the IRS finally made an official ruling on a major sticking point this ...
They can treat the inherited IRA as their own, or take distributions based on their life expectancy. These new rules do not apply to accounts inherited before 2020, or to Roth IRAs. This story was ...
The Secure Act changed the rules on inherited IRAs starting in 2020. The new rules apply to anyone who inherits an IRA from someone who passed away after Dec. 31, 2019.
But if you’ve inherited a traditional tax-deferred IRA, withdrawals will be taxed as ordinary income. So if you make $65,000 a year, withdrawing $35,000 from an inherited traditional IRA would ...