At death, a surviving spouse's estate will owe estate taxes on the net value that exceeds the annual exemption:
| Year | Exempt from Tax | Estate-Tax Rate |
|---|---|---|
| 2017 |
$5,490,000 per person with portability |
Top rate of 40% |
When owners of a Traditional IRA reach age 70½, they are required to take annual minimum distributions. The amount changes each year. Simply divide your IRA's value at the end of each year by the distribution period listed next to your age in the following IRS charts:
|
Marginal Tax Rate |
Single |
Married Filing Jointly or Qualifying Widow(er) |
Married Filing Separately |
|
39.6% |
Over $418,400 |
Over $470,700 |
Over $235,350 |
|
35% |
$416,701 - $418,400 |
$416,701 - $470,700 |
$208,351 - $235,350 |
