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?
02332
1 Best answer
NCperson
Level 15
Oct 25, 2023 4:40:04 PM
@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
Opus 17
Level 15
Oct 25, 2023 12:21:49 PM
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.
NCperson
Level 15
Oct 25, 2023 4:40:04 PM
@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