For all of us -- how (besides the death tax) did they do it?
They7 got it by skimming a huge chunk off the top of the IRA when my Mom passed. Can’t have an inherited IRA worth more than $100K apparently. Can’t explain it more clearly......it’s like trying to read Greek.
And apparently I’m not allowed to let it exceed the $100K, have to keep withdrawing. BUT, if I try to USE some of the principle, then I get hit by big income tax.
Sorry I can’t explain it clearer than that. I’m a financial ninny.
The Dow dropping so rapidly. My mom has lost 40K since January.