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clarification for wpatch or other:

Of IRA in name of original IRA holder issues, you used the acronyms
fbo and DBA? Can you explain what each means?

Also, in those circumstances under which one missed the RMD, the 50% penalty comes out of those amounts that should have been distributed, not the whole IRA, right?

On another note, under the original questioner's scenerio and in your own presumption, apparently, a decedent's IRA legally could be simply distributed like cash to the beneficiaries, as opposed to subfoldering them as continuing IRAs in original owners name?

And for anyone, after hitting distribution age on any IRA, do they generally withdraw state taxes too (assuming not Roth of course), or are you somehow individually responsible for state taxation of it?
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