Duke of Sands
Dryer sheet aficionado
- Joined
- Oct 21, 2006
- Messages
- 41
Re-inheriting IRAs, our experience may be unusual but could be relevant for some. Watch out when an aging parent enters a nursing home and thus has huge medical deductions, yielding a zero income tax rate. We should have had her cash out her t-IRA or convert it to a Roth tax-free while she was still alive, instead DW and I are now paying 15% tax on RMDs from her inherited IRA.