Discussion

Anonymous
timer Asked: Jul 5th, 2018
account_balance_wallet $10

Question description

Topic 1: What is the IRD Rule?

What is the Income in Respect of a Decedent (IRD) rule?

Topic 2: Picking out Roth Income and IRD Income

Is a Roth IRA considered income in Respect of a Decedent (IRD)? Please explain.

Topic 3: Determining IRD Assets

List the various types of IRD assets.

Tutor Answer

EinsteintheProf
School: Duke University

Hello, review the attached document and contact me in case you need any changes. Otherwise, good luck in your study and if you need any further help in your assignments, please let me know. Always invite me to answer your questions.Goodbye.

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Topic 1: What is the IRD Rule?
What is the Income in Respect of a Decedent (IRD) rule?
Income in Respect of a Decedent rule infers to untaxed income whereby a decedent had earlier
earned or gotten a right to receive during their lifetime. IRD is taxed to the individual
beneficiaries or entity inheriting this income. Notably, IRD also counts towards the decedent’s
estate for purposes of the federal estate tax hence drawing a hit of double tax. However, the
beneficiary might opt to take a tax deduction from the estate that is paid on the IRD. The heir is
obliged to declare IRD as one of the income for the year that the individual received it.
Topic 2: Picking out Roth Income and IRD Income.
Is a R...

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Anonymous
Outstanding Job!!!!

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