I have an inherited IRA with a number of bonds of varying maturities in it.
I understand that I can move the bonds to my main account and that would
be a form withdrawal from the inherited IRA. What is the amount I declare
on my taxes when I move the bond to my main account?
For example, there is a bond that shows a cost basis of $20,232.38 and
a current market value of $17,800.00 and a face value of $20,000
when it matures in 2029. I understand I have have to pay income
tax on this inherited IRA withdrawal. Is the withdrawal $17,800
the current market value? Of the $20,000 it will eventually be
worth in 2029?
