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View Full Version : I am a Canadian citizen who inherited an IRA, what kind of taxes will I have to pay?


susieveroff
Oct 4, 2010, 05:14 AM

AtlantaTaxExpert
Oct 4, 2010, 12:33 PM
Assuming the decedent is NOT your spouse, you will have to eventually take a distribution from the IRA and pay income taxes at normal tax rates (probably at 10 - 15%).

Early distributions from an inherited IRA are EXEMPT from the 10% Early Withdrawal Penalty.