Chad’s mom passed away when Chad was 50 years old. Chad inherited her IRA. If the balance in Chad’s Mom’s IRA was $120,000 at the end of last year, when Chad was 58, and $140,000 at the end of this year, when Chad was 59. How much, if any, must he take out from this account to satisfy the minimum distribution rules?

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ESOP account from CRP – consists of CRP shares. The cost basis for the shares is $75,000…Currently valued at $400,000 with Patricia as the beneficiary.

Chad takes a distribution of the CRP stock several years from now when the stock is valued at $500,000. A few years later, Chad has a terrible accident and dies. The value of the CRP stock at the time of his death is $700,000. Patricia inherits the stock and sells it six months after Chad dies for $800,000. What are the tax implications of the sale?


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