How do inherited IRAs and non-qualified accounts get taxed
I have inherited several accounts from my mother's estate. There are some that are listed as IRAs and some listed as non-qualified accounts. I am wondering how these accounts will be taxed when I withdraw the money from them. How is the percentage to be withheld determined? Is it a fixed inheritance percentage? Is it determined by my most recent filing's tax bracket (AGI)? Are both state and federal taxes in play for these (I live in Massachusetts)? Will any of these count as income for my household when we next file taxes? thank you for any info
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