philrom72
New Member

Retirement tax questions

Thank you dmertz.  Unfortunately, I don't have enough deductions to itemize even with the estate deduction. It doesn't seem fair, but I might be stuck.....the additional estate tax amount should have been paid by the admin back in 2012 before the inheritance was given out.  Had that happened, I would have received the inheritance minus that amount.  Now what I have, is an inheritance amount reduced by the same estate tax amount via withdrawal from the inheritance IRA, PLUS state and income tax liability that I would not have incurred had the estate tax been paid correctly back in 2012 before the inheritance was paid out to me.