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Subject:  Tax on inherited IRA Date:  2/21/2013  4:14 PM
Author:  RBMunkin Number:  117832 of 127753

Hey folks,

A pal of mine is freaking out about a 1099-R he got. He inherited an IRA and his understanding is that inheritance is not taxable until you get to mega-amounts, which I believe is true. The amount is $91K.

But he withdrew the money to improve a vacation rental he has. Turbo tax is telling him he owes much bucks for this action. Is this correct even if it's an inherited IRA?

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