Estate Law Questions? Ask an Estate Lawyer.
Thank you for using Just Answer. I look forward to assisting you.You don't pay estate taxes on it, but you will receive a 1099r for the amount of distribution and the taxable portion. You would pay federal tax based on your tax bracket as ordinary income.Please remember to kindly leave a positive rating for me by clicking on the stars, as that is the only way experts are paid for their time even though you may have already paid a deposit to the site. Follow-up questions asked in this thread do not cost anything additional after leaving a positive rating.If you need clarification about my answer or additional information, please use the SEND or REPLY button to continue our conversation. Your satisfaction is my goal and I am here to help!
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