Taxpayer died with no will and no beneficiary for either of his two IRA's. I've never dealt with this so can the estate cash in the IRA's and use the funds to pay off debt and then distribute any remaining funds to the heirs? If so would the Estate file a tax return and pay the tax on the withdrawals from the IRA accounts
IRA for deceased that passed to Estate
Collapse
Disclaimer
Collapse
This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.