AMJ Financial Blog

Tag Archive: IRD deduction

Calculating an IRD Deduction

Have you recently inherited a loved one’s retirement assets? You should know that there is an income tax deduction available to you called the income in respect of a decedent, or IRD, deduction. When certain inherited assets are hit with both federal estate and income tax, this deduction can help offset the impact. Your IRD… Read More

Calculating IRD Deduction

If you’re the recent beneficiary of a loved one’s retirement assets, you may be unaware of an income tax deduction available to you called the income in respect of a decedent (IRD) deduction. When certain inherited assets, such as IRAs, 401(k)s, and other retirement accounts are hit with both federal estate and income tax, this… Read More