IRA Inheritance?

What can you do with an inherited IRA when it comes to taxes?

QUESTION: Rob wants to know what he can do with the money he has inherited from an IRA.  Is it taxable?

ANSWER: It’s all taxable, so when you cash it out you will have to pay your income tax rate on it.  It can only be sheltered from taxes if it was your spouse’s IRA. 

After that, follow the Baby Steps. 

Jump-Start Your Goals!

Jump-Start Your Goals!

Get our 8-Day JUMP START series and weekly newsletter that are packed with articles and tools to help you win with money.

Find a Local Expert

Start with a Local Expert

Get trustworthy guidance to help you save money on life’s most complicated financial decisions.

Find an ELP

Thank You!

Your 8-Day Jump Start is on its way to !