Is the Beneficiary of an IRA Taxed on Distribution - Ken Golliher

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Is the Beneficiary of an IRA Taxed on Distribution
Answer by Ken Golliher, BOL Guru
Guru BIOS

Question: Does the beneficiary of an IRA have to pay taxes on money received from an IRA when the owner dies? Is this income taxed at the "ordinary income" rate?

Answer: Yes, distributions from an IRA to a beneficiary are taxable as ordinary income in the year of receipt.

First published on BankersOnline.com 3/21/05

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