Ira distribution

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  • TAX4US
    Senior Member
    • Mar 2010
    • 551

    #1

    Ira distribution

    TP deceased. Administrator cashes in IRA(600K) puts into estate checking account. Administrator pays Heirs 300K. No other distributions. Heirs pay tax on their 300K. Who pays tax on remainder? Not a final 1041 being filed as off this date. I think the estate on form 1041 owes the tax. What say you?
  • Anarchrist
    Senior Member
    • Oct 2006
    • 353

    #2
    I think so too.
    "Taxation is the price we pay for failing to build a civilized society." ~ Mark Skousen

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