Have you recently inherited a loved one’s retirement assets? If so, you should know that there is an income tax deduction available to you called the income in respect of a decedent, or IRD, deduction. When certain inherited assets are hit with both federal estate and income taxes, this deduction can help offset the impact. Taking the time to ensure you correctly utilize this tax break can help you keep more of your inheritance in your hands.
Avoid double-taxation on your inheritance!!
Questions? Give us a call at (877) 714-2362 to schedule a time for a visit.
An Ed Slott Master Elite IRA Advisor
22 Church Street | P.O. Box 60 | Liberty Corner, NJ | 07938
Phone (877) 714-2362 | Fax 1 + (908) 325.0008