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Get your taxes done using TurboTax
This forum connects you with a variety of tax experts answering questions about general taxation and using TurboTax. And we're happy to do so!
The 50% tax that you're talking about is for RMDs that you didn't take. But the IRA was just transferred to you so you haven't missed any RMDs yet. So start taking the RMDs immediately and you should be fine.
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‎February 5, 2025
4:38 PM