Well, don't you know that as soon as I passed this good news
> on to my client, he answers me back that he had taken
> distribution of the entire contents of all the retirement
> accounts and the checks had come in the mail. He is under
> the impression that he will owe only another $10,000. Sorry
> dude - add another zero to that figure. The income is from
> tax sheltered funds and is fully taxable.
>
> Don't you just love it when your clients do exactly what you
> tell them not to?
This is another great example of how we, as preparers, try to find all kinds of ways to DELAY the taxation of inherited IRAs and annuities. But, in the final analysis, most heirs just want to get their hands on the money ASAP. MTW
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