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    ldbranham's Avatar
    ldbranham Posts: 1, Reputation: 1
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    #1

    Feb 2, 2010, 12:00 PM
    I will inherit My Mothers tax deferred IRA will I have to pay taxes to IRS
    I live in Florida, amount will be less than 50,000.
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #2

    Feb 2, 2010, 01:56 PM

    You do not need to worry about estate or inheritance taxes, but as you make withwithdrawals from an inherited IRA the amount of cash you receive in distributions is taxable to you as ordinary income.
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