Guest chickbull Posted October 25, 2008 Posted October 25, 2008 Is there a rule that says distributions if you were born before 1936 might qualify for capital gains rather than ordinary income taxes? If, under what conditions? Thank you.
basumukherji Posted October 26, 2008 Posted October 26, 2008 I think you should look into filing IRS Form 4972. It has the details. Link: www.irs.gov
Appleby Posted October 26, 2008 Posted October 26, 2008 Since you mentioned being born before 1936, you are probably referring to the income averaging ( or forward averaging) treatment. That treatment does not apply to IRA assets. Life and Death Planning for Retirement Benefits by Natalie B. Choatehttps://www.ataxplan.com/life-and-death-planning-for-retirement-benefits/ www.DeniseAppleby.com
Guest chickbull Posted October 27, 2008 Posted October 27, 2008 Since you mentioned being born before 1936, you are probably referring to the income averaging ( or forward averaging) treatment.That treatment does not apply to IRA assets. Yes, it is a 10 year averaging. But won't apply to distributions?
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