Reply to If you are keeping an inheritance separate from marital funds, how do you handle inherited IRA

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Why "thanks Trump"? This money has never been taxed, it's always the law that pre-tax funds get taxed when withdrawn, has nothing to do with who is president.[/quote]

The SECURE Act of 2019 put a ten year time limit on withdrawing from inherited IRAs. Before that law, you could stretch the withdrawals out more. This hurts people who inherit money when they are younger and are still working. [/quote]

Meh, it prevents the money from remaining untaxed for decades.  If op had her way, she’d just pass it on to her own kids as an inheritance some forty-odd years from now.  I inherited an IRA from my father and I think 10 years is plenty of time to distribute the funds.  [/quote]

Not “meh”
Ad usual Trump sucks at finances maga cult of can not do math[/quote]

Sorry, not a ton of sympathy.  An IRA is intended as a vehicle for retirement savings, not passing down an inheritance with untaxed money.  [/quote]

Exactly. Oh boo hoo you only get...$2 million.[/quote]

Right? The money has to be taxed somewhere, somehow. Exactly how long should the taxes be deferred? OP sounds awful[/quote]

The taxes should be deferred until some descendant stops earning over $400K a year, which OP intends to be never. [/quote]

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