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tax basis in traditional ira at death

  • Thread starter Thread starter dclarson2
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dclarson2

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michigan - what happens to basis in traditional ira at death? can it be applied in its entirety to reduce the taxable amount of distributions in the year of death on a joint return? or does the remaining basis carry over to the surviving spouse beneficiary
 


IRA

I live in Ohio.
Upon my husband's death..his entire IRA balance was transferred to me, and it continues on as before, tax deferred. Unless, you draw it all out..then, it's 100% taxable. Bad move. My opinion.
 

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