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Retirement tax questions
The year you cash out the IRAs is the year it will be taxed. The estate will pay the tax unless it distributes the cash to the benes (persons in the will) or you can pass the cash out to the benes and they will pay tax due, and that's better than the estate having to pay the tax because the estate income tax rates are nuts. Don't forget that an estate can choose a fiscal year.
‎August 19, 2021
11:53 AM