Income in respect of a decedent

As defined by Title 26 of the United States Code of Federal Regulations § 1.642(c)-5 and the Internal Revenue Code section 691, the income in respect of a decedent (IRD) is "all income the decedent would have received had death not occurred that wasn't properly includible on the final tax return".^[1][2] It is payable to decedent’s estate, trusts, or individual beneficiaries after decedent's death. These are includible in the decedent’s estate for federal estate tax purposes and is often a reason of misunderstanding or oversight.^[3]

Common IRD assets are IRA bequests.^[4]