Quote:
Originally Posted by ton80
I am not a CPA nor Tax Preparer other than my own via TurboTax. However I have been researching rules for inheritance for our children. I think that you accurately recognize the need for some help in understanding how to handle inherited IRA and property in another state.
Perhaps someone on this site can suggest a good Tax Preparer/CPA who can simplify the rules and give you a plan and good understanding. Inherited IRA's have rules as to how long you have to distribute the assets depending upon whom the IRA was inherited from and when the transfer occurred. This is too complex and private to be discussed on a public forum.
Perhaps Boomer may have some suggestions.
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Actually, i'm past the point of needing help with inherited IRA. I cashed it out but i am aware of the 10 yr thing to disperse taxes under the secure act. I don't have property in another state yet.