Designated beneficiaries are those who are not "eligible designated beneficiaries".
Eligible Designated Beneficiaries are:
Spouse or minor child of the deceas...
Assets held for at least one year and sold are considered long term capital gains/losses. Your state may also assess a capital gains tax.
At the Federal level,...
Based on the information you provided, it sounds like you are considered aDesignated Beneficiary by the IRS. Generally, designated beneficiaries must follow the...
It hasn't yet been updated for 2024, but the TurboTax Tax Calculatorcan be used to get a general estimate. It won't be exact as tax brackets generally have some...
The 403(b) account (assuming it is pre-tax) generally will have to be distributed within 10 years of being inherited by the beneficiaries. As either beneficiary...
