msmap
September 13th 03, 10:19 PM
My wife and I have just inherited an IRA from her father (co-beneficiaries)
and I was wondering about how to take distributions. He had already begun
taking money out and his portfolio consists of stock , mutual funds and
Strips. I have been told you can take stock out of the account equal to the
RMD then pay normal income on the distribution. If this is correct, what is
the basis of the stock when you sell it later?
TIA,
Monte
and I was wondering about how to take distributions. He had already begun
taking money out and his portfolio consists of stock , mutual funds and
Strips. I have been told you can take stock out of the account equal to the
RMD then pay normal income on the distribution. If this is correct, what is
the basis of the stock when you sell it later?
TIA,
Monte