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10 Years to pay out IRA

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Question: 
What is the difference between an eligible designated beneficiary and a designated beneficiary?
Answer: 

10 Years to pay out IRA

Answer: An eligible designated beneficiary still can take the IRA out over his or her life expectancy. Otherwise, the designated beneficiary has to deplete the IRA in 10 years after the owner’s death.

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Learn more about Deborah Crawford’s IRA Update and Review—2021-2022 Tax Season webinar.

First published on 01/16/2022

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