I think you can take it out over a number of years- which could defer taxes

or keep taxes in lower bracket as explained below. IE- pay 24% of it over a number of years instead of 32 this year. I think you can even set it up to draw down over a number of years- etc
[Post edited by bigbadbird at 12/29/2021 1:12PM]

In response to this post by JoesterVT

Posted: 12/29/2021 at 1:11PM

What do youze guys know about inherited IRAs? -- JoesterVT 12/29/2021 12:28PM

Google must be listening. I just got an email from TD Ameritrade... -- Spud 12/30/2021 10:02AM

I've been receiving inherited IRA payouts for many years. -- Full-Set and Moonshine 12/29/2021 6:56PM

Yes, tax laws changed. It is 10 years to take out if not a married spouse -- VaTechie 12/29/2021 10:09PM

To take all of it ? ** -- Full-Set and Moonshine 12/29/2021 10:50PM

Yes, 10 years to take all of it out -- VaTechie 12/29/2021 10:55PM

Good to know ** -- Full-Set and Moonshine 12/29/2021 11:06PM

Do you trust your wife? ** -- HokieDan95 12/29/2021 5:29PM

Can you wirhdraw the IRA over 10 years and pay off the mortgage -- Baltimore Hokie 12/29/2021 1:47PM

Certainly...and I only have about 5 years left on the mortgage anyway -- JoesterVT 12/29/2021 1:53PM

Would say do calculations -- HokieForever 12/29/2021 2:03PM

Will add instead of making an extra payment each year -- HokieForever 12/29/2021 2:08PM

Oh- shun ** -- bigbadbird 12/29/2021 1:27PM

Inside -- FfxStationHokie 12/29/2021 1:30PM

I think you can take it out over a number of years- which could defer taxes -- bigbadbird 12/29/2021 1:11PM

First qs pp1 are right. The other is whatever works. Rest assured at some -- ColoVT82 12/29/2021 12:55PM

My wife got an inherited IRA too (inside) -- FfxStationHokie 12/29/2021 12:47PM

Your basic understanding is pretty much correct -- Hokerer 12/29/2021 12:41PM

Would also add using some back of the napkin math -- HokieForever 12/29/2021 2:02PM

Also how much home interest from a payoff is saved vs taxes paid ** -- coshokie 12/29/2021 1:31PM

I get that, but my thought is this... -- JoesterVT 12/29/2021 1:39PM

Yet you have this IRA which IS that investment -- 133743Hokie 12/29/2021 2:08PM

Well, I'd never borrow money on a paid for house to invest in an IRA, so .. -- JoesterVT 12/29/2021 2:15PM

With the IRA he has the resources to be debt free whenever he wants, but -- 133743Hokie 12/29/2021 4:19PM

Wrong way to look at it imo -- HokieForever 12/29/2021 2:23PM

Good point on amortization, yeah he is saving "pennies" at this point ** -- HokieForever 12/29/2021 2:11PM

Agree, that's a great place to be in ** -- coshokie 12/29/2021 1:51PM

Where can I find info on the tax brackets? ** -- JoesterVT 12/29/2021 12:46PM

Lots of places, link inside -- Hokerer 12/29/2021 12:52PM

Thanks! ** -- JoesterVT 12/29/2021 1:09PM

Nothing. If you need help with IPA's, let me know. ** -- vt90 12/29/2021 12:31PM

Yeah. Always take an IPA. ** -- HokieR 12/29/2021 1:32PM

I think you can take it out over a number of years- which could defer taxes

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