Arkansas.
My Mother passed away 2 years ago and left an IRA to be divided amoung 3 children. I kept my portion as an beneficary IRA and took two mandatory withdrawls. Today I closed out the account and am using the money to pay debt. Will I have to pay an early withdrawl penality because I am under 59 1/2 or am i exempt because this is a beneficary IRA ? My Mom had begun receiving distrubtions from her account prior to her death. My understanding was that I would have to pay taxes as I would on income, but no penality since this is not "my" IRA.
Thank you

