H has an inherited IRA from his sister. He takes annual distributions based on her birthdate, I believe and will continue to do so until it is depleted. The distribution is part of our income for income taxes. No penalties are involved.
H has an inherited IRA from his sister. He takes annual distributions based on her birthdate, I believe and will continue to do so until it is depleted. The distribution is part of our income for income taxes. No penalties are involved.