August 16, 2013 at 14:14 PM EDT
Tips For Lowering Tax On An Inherited IRA
Created in 1974, IRAs have become a key part of retirement finance for many Americans. The Investment Company Institute reports that 39% of U.S. households headed by someone 65 or older have an IRA. Many 40-, 50- and 60-somethings will inherit those IRAs. After, they'll have to take taxable distributions. To trim the eventual tax hit, offspring can give seniors money for Roth IRA conversions. Say that a hypothetical Ed Lee is retired and has an
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