No, just you. Any IRA withdrawal is taxed to the owner as regular income. Recipients never pay taxes on gifts they receive. And the givers only pay taxes if the total gifts exceed $13.61 million (in 2024).
No, just you. Any IRA withdrawal is taxed to the owner as regular income. Recipients never pay taxes on gifts they receive. And the givers only pay taxes if the total gifts exceed $13.61 million (in 2024).
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