Story thread · 8 reports / 2 sources

He Turned 73 With His Own IRA and the IRA He Inherited From His Wife. One Withdrawal From His Own Was Supposed to Cover Both. The IRS Fined Him on Hers

247wallst.com · 2dShare

A 73-year-old retiree followed a perfectly legal IRS shortcut for combining retirement account withdrawals, then got fined for a distribution he thought he had already taken. The rule he missed is written in plain sight, and it catches surviving spouses more than anyone else.

First report: She Paid $70,000 of Her Mother’s Nursing-Home Bill Last Year. The IRS Let Her Deduct It on Her Own Return, Even Though Mom Files Her Own Taxes and Has Never Been Her Dependent — 247wallst.com, 4d