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I've inherited an IRA from from father, who passed away in 2006.

My condolences.

(Apparently, ML is pretty slow to act on this.)

I've heard of these things dragging on for 6 months.

Anyway, the proper designation for this, I believe, is: a beneficiary IRA.

I believe the account should be titled "DadTas IRA (deceased June 1, 2006) F/B/O SirTas, beneficiary.".

See
http://www.bankrate.com/brm/news/ira/20041006a1.asp

and
http://www.montana.edu/wwwpb/pubs/mt200310.html

and maybe
http://www.inherited-ira.info/

The question is whether this will be taxable income to me.

Probably. Unless your father had made nondeductible contributions to the IRA and filed the proper forms establishing an IRA basis. But I think that case is unlikely.

I don't believe it will--since it's inherited.

Unfortunately, IRAs don't get a step up in basis -- only assets in taxable accounts.
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