Truth 16 Inheriting an IRA

It always helps to know the rules. However, when it comes to inheriting an IRA, the rules can be so complicated that knowing them is just the start of knowing what to do. A surviving spouse inheriting an IRA is treated differently from anyone else inheriting an IRA. There are three possible situations that apply to a surviving spouse who is named the beneficiary of her deceased spouse’s IRA.

Inheriting a traditional IRA from a deceased spouse who had not yet turned 70 1/2

The first situation occurs when you inherit an IRA from a deceased spouse who had not yet turned 70 1/2, the age at which ...

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