What is the current federal tax requirements for traditional IRA retirement investments passed on via inheritance after a deceased parent? How much (% etc) taxes need to be paid, and in what increments and/or timeline? Inherited in 2021. I'm afraid to touch the money, so it's been sitting in an account for me at the investment company, not invested, not being deposited, out of fear of this affecting my tax bracket. I am low income and rely on state Medicaid and am afraid I will lose these benefits if deposit some of these funds to my bank account to help pay home bills. I have to be careful I deposit enough to cover whatever the taxes will be too. I've been told I "need to speak with a Tax Advisor" but I don't have money available for that, and I don't even know what kind of questions I should be asking them anyhow.
