You've Inherited an IRA. Now What?
Recently inherited an IRA? The wrong move could cost a boat load in taxes and penalties, but you have options. Governing bodies like the IRS and legislation such as the SECURE Act have outlined important rules regarding an inherited IRA, such as how much you may owe in taxes as well as whether you will need to begin taking required minimum distributions. These can depend on several factors, such as your relationship to the deceased, whether the IRA inherited is Roth or traditional and more.