TITLE

Recent Developments Help Avoid the Double Tax on IRD Property

AUTHOR(S)
Gardner, Randy; Welch, Julie A.
PUB. DATE
February 2007
SOURCE
Journal of Financial Planning;Feb2007, Vol. 20 Issue 2, p44
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
The article offers ideas to minimize taxes imposed on income in respect of decedent property. The author starts by giving a hypothetical scenario in which a man's gross estate includes a $1 million IRA. The author poses the question whether the man should distribute the IRA before or after his death, to which the author provides answer and reasons for the answer. A table presenting both outcomes is included. The article continues by offering advice on how to avoid the estate tax and minimize income tax when such a scenario is presented, including the Pension Protection Act and income tax deductions.
ACCESSION #
24018072

 

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