Level 2

Best way to use a Beneficiary IRA

I have a beneficiary IRA that, since my dad's death was 2020, is to be withdrawn over the next 10 years (not a stretch IRA) at whatever rate of withdrawal I think is best (if I understand it right).  The wrinkle: If I sell my investment rental and don't do a 1031 exchange, I'll be bumped into the next bracket (because of depreciation not just cap gains). 

The money isn't needed yet, but tax planning is obviously important.  In that case, would it be prudent to take as much out of the IRA as I can while keeping me under the next bracket?  

Employee Tax Expert

Retirement tax questions

Absolutely, that is the purpose of the law- to allow taxpayers to plan so they can minimize their tax burden.  

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