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What is an Inherited IRA (otherwise known as Beneficiary IRA)?

April 26, 2017Beneficiary inherited IRA known

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What is an Inherited IRA (otherwise known as Beneficiary IRA)?

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A. When a beneficiary other than the spouse takes possession of the assets in a tax-deferred IRA account, the funds are transferred into an Inherited IRA so that they remain tax-deferred until the IRS requires that they be withdrawn.