I inherited my wife's IRA & rolled it directly into my IRA are the funds considered taxable income?
The amount was $256,000. It was strictly a paperwork transaction at the same broker, I never received funds, but I received a 1099 for the funds showing taxable.
Answers | 2
Investment Manager (Financial Advisor) in North Charleston, SC
March 26, 2016
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President & CEO, TZG Financial in Charlotte, NC
March 31, 2016
Asked by Kathleen
Answered by Dan Crimmins
Financial Adviser in Woodcliff Lake, NJ
Kathleen - It is great that you are saving for your retirement. The difference be...
Asked by victor piediscalzo
Answered by Tracy Scott Burke
CFP®, ChFC® in Harrisburg, PA
Victor, Thanks for your question. Some type of a tax-deferred retirement accou...