What is the tax consequence of amounts received from a Traditional IRA after the money was left in the tax-deferred account by the beneficiary? 1. Capital gains tax on distributions and no penalty. 2. Capital gains tax on distributions plus 10% penalty. 3. Income tax on distributions and no penalty. 4. Income tax on distributions plus 10% penalty

What is the tax consequence of amounts received from a Traditional IRA after the money was left in the tax-deferred account by the beneficiary?
1. Capital gains tax on distributions and no penalty.
2. Capital gains tax on distributions plus 10% penalty.
3. Income tax on distributions and no penalty.
4. Income tax on distributions plus 10% penalty

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