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Personal Finance and Investing

PJMcK

(23,417 posts)

5. Consider this

Reply to BComplex (Reply #1)

Tue Jul 23, 2024, 05:59 PM

Jul 2024

The reason the law requires liquidation of the inherited IRA is to keep rich families from hoarding vast sums in tax exempt accounts. By requiring those accounts be liquidated, that money recirculates into the economy.

It’s not perfect but that’s the purpose of the requirement.

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Heirs Finally Get an Answer From IRS About Money in Inherited Retirement Accounts - WSJ [View all] question everything Jul 2024 OP

This is a terrible law! People whose spouse dies need to be able to support themselves monthly as long as they live BComplex Jul 2024 #1

spouses are exempt ret5hd Jul 2024 #3

Oh! Good to know. BComplex Jul 2024 #4

To be clear, a married couple filing taxes jointly (and who inherit an account) are also subject jointly to the progree Jul 2024 #8

This message was self-deleted by its author Fiendish Thingy Jul 2024 #9

Consider this PJMcK Jul 2024 #5

That's good, then. BComplex Jul 2024 #6

Clear as mud, Roth accounts not mentioned bucolic_frolic Jul 2024 #2

Some questions answered progree Jul 2024 #7

Just spoke to my Broker. no_hypocrisy Aug 2024 #10

Latest Discussions»Culture Forums»Personal Finance and Investing»Heirs Finally Get an Answ...»Reply #5