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Can you help with the tax ramifications of an inherited 401k that is to be divided among 4 people?
My mother recently died. I was named beneficiary on her 401k. I have 3 siblings, and we have divided everything evenly until now. I was told that I would be responsible for penalties and taxes if I take a distribution. I need to know what the ramifications will be in order to divide the money evenly. I do not want to be bumped up into a higher tax bracket next year and have to pay taxes.
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‎June 7, 2019
4:43 PM