Consequences of liquidating an ira

The second option is to distribute 100% of the inherited IRA to the beneficiary by the end of the fifth year following the year of the original owner’s death.

Michael Kitces is a Partner and the Director of Wealth Management for Pinnacle Advisory Group, a private wealth management firm located in Columbia, Maryland that oversees approximately .0 billion of client assets.The first choice again is for the heir to take annual installments over the beneficiary’s life expectancy.The second option does not include a five-year rule.Remember, an amount exceeding the RMD can be withdrawn at any time.The second option is for an heir who doesn’t intend to use the long-term tax deferral of the IRA.

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