I inherited an IRA totaling ~$30k in California. The IRA is subject to the 10 year rule and has been sitting mostly in cash for the last 2 years. I'm looking to invest the total amount either in the current IRA or another investment portfolio, but I'm unsure if I should withdraw everything now or if I should take smaller withdrawals over the next 8 years.
What distribution strategy would minimize the amount of taxes I pay? If I decide to redistribute the money to my own personal IRA, would withdrawing the maximum contribution limit each year be the better strategy?
Thank you for your advice 🙂
