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#2
12-23-2006, 05:28 AM
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 Re: Estate tax on rollover over IRA to non-spousal beneficiaries <susheth[at]gmail.com> wrote: - quote - > The pension protection act of 2006 now allows non-spouse
to estate tax like any other asset included in the taxable> beneficiaries to roll over assets inherited from a qualified > retirement plan into an IRA. > What are the estate tax implication if this IRA is rolled > over to a non-spousal beneficiary? estate. If you want the roll over to be effective, you need to provide another source for the payment of estate tax attributable to the qualified plan. << ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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#1
12-23-2006, 05:28 AM
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| Re: Estate tax on rollover over IRA to non-spousal beneficiaries susheth[at]gmail.com wrote: - quote - > The pension protection act of 2006 now allows non-spouse
No different than before, really.> beneficiaries to roll over assets inherited from a qualified > retirement plan into an IRA. > What are the estate tax implication if this IRA is rolled > over to a non-spousal beneficiary? Prior to this, a 401(k) could be inherited, but not not rolled into an IRA if beneficiary was a non-spouse. This is separate from the estate tax which would be paid by the decedent's estate if over a certain amount. Any retirement funds (except Roth IRA) are part of that estate. JOE << ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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12-23-2006, 05:28 AM
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| Re: Estate tax on rollover over IRA to non-spousal beneficiaries susheth[at]gmail.com wrote: - quote - > The pension protection act of 2006 now allows non-spouse
None. The value of the IRA is included in the decedent's> beneficiaries to roll over assets inherited from a qualified > retirement plan into an IRA. > What are the estate tax implication if this IRA is rolled > over to a non-spousal beneficiary? estate regardless of who the beneficiary is. << ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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#-1
12-22-2006, 05:33 AM
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| Estate tax on rollover over IRA to non-spousal beneficiaries The pension protection act of 2006 now allows non-spouse beneficiaries to roll over assets inherited from a qualified retirement plan into an IRA. What are the estate tax implication if this IRA is rolled over to a non-spousal beneficiary? << ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
| Tags |
| beneficiaries, estate, ira, nonspousal, rollover, tax |
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