Income In Respect Of A Decedent (ird)

Definition of "Income in respect of a decedent (ird)"

Martin Signore real estate agent
Martin Signore, Real Estate Agent Keller Williams Capital Properties

Classification at death of all pension plans, profit-sharing plans, individual retirement accounts (IRAS), annuities, and installment payments to the extent to which the deceased was entitled to receive income and that income was not included in the deceased's taxable income in the year of the death. This income is ruled to be subject to income tax to the beneficiary as well as estate tax to the heirs.

Have a question or comment?
We're here to help.

*** Your email address will remain confidential.


Popular Insurance Terms

Popular Insurance Questions