I have an inherited IRA from a 90-year-old sister who had begun distributions before her death. I don’t need or want her distributions yet. Is there a more practical way I can currently avoid the distribution taxes on these funds without adding her distributions to mine until later? I am 86 and currently taking my […] The post Ask an Advisor: Can I Avoid Taxes on an IRA I Inherited From My Sister? I Don’t Need or Want Her Distributions Yet appeared first on SmartReads by SmartAsset.
Inheriting property, whether expected or unexpected, can raise some questions about what to do with it and what it's worth. Specifically, you'll need to know the property's fair market value (FMV) to calculate your cost basis for tax purposes. How do you determine the fair market value of inherited property? There are a few ways […] The post How Do You Determine the Fair Market Value of Inherited Property? appeared first on SmartReads by SmartAsset.