Settlement My mother and father were recently divorced. My father is disabled and has only one leg. He lives on social security disability which is less than what is required to file for income taxes. However, he received 75k in an IRA from my mother as a settlement. He received 26k cash and the rest in an IRA I should say. Everytime he chooses to withdraw a portion of that money he is being taxed a descent amount. Should he file? Would he get a return? Could this jeopardize his ssc disability income? Has anyone ever dealt with anything similar? Thanks for your time! |