While an article cannot cure the current stock market woes, it can provide guidance for avoiding penalties for failure to take MRDs from inherited IRAs.
As we are all painfully aware, the stock market has experienced a significant downturn in the last year, and that decline has negatively impacted many individual retirement accounts, whether invested in mutual funds or otherwise. While the shrinking values of IRAs are disconcerting enough, when they are compounded with penalties for failure to take minimum required distributions, or MRDs, a more dire situation emerges, particularly in the case of inherited IRAs, where beneficiaries are often not properly advised regarding IRA distribution options and requirements. While an article cannot cure the current stock market woes, it can provide guidance for avoiding penalties for failure to take MRDs from inherited IRAs.
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