Beneficiary IRA ??
I've done a search on this forum and haven't found a clear answer - and I've already told son to talk to an expert,
but...... if anyone here can help, I'd sure appreciate it.
Son is receiving a distribution from his late father's IRA. He's taking the distribution over 3 years, 17,000 per year.
Does he owe income taxes on it? I believe since it's inherited that he does not. Is that correct?
He's missed the deadline to roll it into an existing IRA - He does want to put it towards future retirement.