My father passed in December 2019. I inherited a traditional IRA from him but did NOT transfer it into my name until November of 2024. From what I've read online I know I need to take minimum distributions and am concerned that because he passed before change in law, I may now be subject to a 50% tax by IRS! Is this true? The IRA is 27k and I need help figuring out how and what to do to minimize my tax burden. I'm single and 58 years old.
