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Retirement tax questions
The rule goes ... if the annuity payout would have been taxable to the decedent then it is taxable to the heirs/beneficiary. If the estate received the payout they can either pay the taxes at an extremely high rate or pass thru the income to the beneficiaries to pay at their tax rate. So everything depends on who the check was sent to ... talk the the estate's trustee if this is who was paid.
‎June 1, 2019
7:46 PM
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