Tax Warrior Chronicles

Considerations When Inheriting an IRA

Posted on Tue, Jan 04, 2022

By: Matt Lebo, CPA

 

When inheriting an IRA (Roth or Traditional) you may wonder about available choices regarding the account title as well as distributions. Are distributions required? If so, how long do you have to take these distributions and when do these distributions begin? Are you eligible to move the IRA to your own name; and, if so, should you do this, or must the account name reference the decedent and their date of death? What are the tax implications of these choices? Today, we’ll answer these questions and more as we explore inheriting an IRA.

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Recap of Recent Tax Developments

Posted on Thu, Jul 31, 2014

The past few months have been chock full of tax-related developments.  The sweeping changes that took place in 2013 did not stop the IRS and Tax Courts from continuing to make news in 2014. With changes affecting everything from IRAs to HSAs (and other letters of the alphabet), many of these developments may impact your income tax liability—and we are only just past half way through the year!

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