Consolidating inherited iras
This IRS chart will determine the appropriate life expectancy number.
An even better option for nonspouse beneficiaries involves what's known as a stretch IRA strategy.It seems simple enough: If you're at least age 70½, you must annually withdraw a specified amount—a required minimum distribution (RMD)—from your retirement accounts.Yet that distribution is preceded by a number of calculations and classifications.But appreciating that new "distributors" may need extra time to prepare for the withdrawal process, the IRS allows you to defer your first RMD to as late as April 1 of the next year.While that might be convenient, it may not be in your best financial interest.
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Liberating too much from your accounts, though, might limit your nest egg in the long run and result in a higher tax bill.