Thanks very much for the information. Yes, I think I will have to get tax help next year, for the first time!
The estate lawyer did say that the distribution could be annuitized, but I and the other beneficiaries would prefer a lump sum, and we've been informed about the dollar amounts of...
My late mother had an IRA and an annuity as part of her estate. Apparently these are distributed to the beneficiaries, who pay cap gains taxes themselves on it. The estate lawyer recommended not having any taxes be witheld from this money, but to just pay the taxes next April.
But if these...