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Level 1
October 25, 2023
Solved

inherited ira

  • October 25, 2023
  • 2 replies
  • 22 views

I have been taking rmd from my ira for 5 years.  Do my beneficiaries pay more taxes than I would if I withdrew more before I died?

    Best answer by NCperson

    Expert Reviewed

    @vssco  the answer depends on your tax bracket and your children's expected tax bracket if they inherited the remainder of your IRA.

     

    As stated by others, it is not a one-size-fits all answer.  Every one's financial situation is different 

    2 replies

    Level 15
    October 25, 2023

    That depends on their other income, deductions credits, and their tax bracket, compared to your income and tax bracket.  There is no one size fits all answer.  

    NCpersonAnswer
    Level 15
    October 25, 2023

    Expert Reviewed

    @vssco  the answer depends on your tax bracket and your children's expected tax bracket if they inherited the remainder of your IRA.

     

    As stated by others, it is not a one-size-fits all answer.  Every one's financial situation is different