Featured Jobs
|
MAP Retirement
|
|
Transaction Coordinator II (Brokerage accts) MAP Retirement
|
|
ESOP Administration Consultant Blue Ridge Associates
|
|
Retirement Plan Administration Consultant Blue Ridge Associates
|
|
The Pension Design Group
|
|
ESOP/KSOP Processing Specialist BPAS
|
|
Senior Retirement Plan Analyst - DC Plans M2B Retirement Consulting LLC
|
|
Participant Services Representative BPAS
|
|
Retirement - Client Services Manager Navia Benefits
|
|
July Business Services
|
|
Loren D. Stark Company
|
|
July Business Services (JULY)
|
Free Publications
|
|
Beneficiaries Need to Understand the 'Income in Respect of a Decedent' Deduction
Michael Kitces in Nerd's Eye View 
[Guidance Overview] June 24, 2015
"[T]he Internal Revenue Code allows for an 'Income in Respect of a Decedent' (IRD) deduction under Section 691(c). Claimed by the beneficiary of an inherited IRA to the extent of any estate taxes that were caused by the account, the deduction can be material -- as much as 40% of the value of the account! Yet despite its size, beneficiaries in practice often 'miss' the IRD deduction ... And notably, in the end the IRD deduction applies not only to inherited IRA accounts, but also other employer retirement plans, inherited non-qualified annuities, employer non-qualified stock options, deferred compensation, employer NUA stock, and more!"
|
| Please click here to report this link if it is broken (for example, if you see a "404 File Not Found" error message after you click on the linked news item's title). |
| An important word about authorship: BenefitsLink® created this link to the news item, but we are not the news item's author (unless expressly shown above). |