Calculating an IRD Deduction

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Have you recently inherited a loved one’s retirement assets? If so, you should know that there may be an income tax deduction available to you called the income in respect of a decedent, or IRD, deduction. When certain inherited assets are hit with both federal estate and income taxes, this deduction can help offset the impact. Taking the time to ensure you correctly utilize this tax break can help you keep more of your inheritance in your hands.

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Calculating an IRD Deduction in 5 Easy Steps


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