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Inheritance tax
my mother in law just passed away. My wife is the primary beneficiary on her IRA. Myself and our 3 kids (all in 20s and 30s) are secondary beneficiaries. If my wife and myself disclaim the IRA I assume we avoid any tax liabilities and our kids would pay tax on the RMD (split in thirds) as income on their individual returns. Is that correct?
‎July 26, 2023
9:57 AM