Hidden Tax Opportunity

Jones, Dan
January 2007
PN;Jan2007, Vol. 61 Issue 1, p22
Trade Publication
The article presents information about the 691(c) income-tax deduction Act in the United States. This deduction has been designed to offset the double taxation on inherited assets. This deduction will be useful for people who have inherited individual retirement accounts or other such retirement plans. The deduction is also applicable to lottery winnings and interest on unredeemed U.S. savings bonds.


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