Inherited IRA withdrawal

Forum|Forum|10 months ago
October 22, 2025
1 reply
140 views

Thank you for your earlier response. So I asked about tax penalty if I'm 71 years old and I opened an inheritance account with Charles Schwab as a result of the loss of my husband. I would like to withdraw 75K to pay off my mortgage.

I was advised earlier that it would be taxed as income and may possibly force some of my social security benefits to be taxed or taxed higher.

Question: Can I make the withdrawal for 75k and request it be make payable to the mortgage company so that it doesn't touch my hands. Can that be done and would that eliminate that being taxed as income?

Thank you again.

Ask the Experts - Navigating - Oct 2025

VolvoGirl

Level 15

Sorry no. Doesn’t matter what you do with a distribution unless you made a QCD charity donation. It will be taxable and will push you into a higher tax bracket and can make more of your SS taxable.