I inherited an IRA in 2012 following the death of the owner, who was born before 1936, and subsequently rolled the IRA into a differed annuity. In 2019 I closed the annunith and took a total lump sum distribution. Should the total amount be taxed as normal 2019 income or can I use the 10 year tax option?
There is no option other than to recognize the distribution as income in 2019. It will be taxed as ordinary income.
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