Dear Tax Talk,
If my spouse passes away, and I’m only 35 years old, would I have to pay an additional 10 percent above my regular income tax on the distribution from his IRA?
Is there any way to avoid it if:
As the beneficiary of your deceased husband’s IRA, you would not have to pay the additional 10 percent tax on the distributions you receive. Additionally, as a spouse, you would have several options to consider with this inherited IRA.
Please do not hesitate to sit down with a tax professional who can help you sort out these decisions with respect to your particular tax situation.
Thank you for the great question and all the best to you as you move forward.
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