Income in Respect of a Decedent Law and Legal Definition
Income in Respect of a Decedent (IRD) is the income a beneficiary receives after the death of the deceased. Such income would have gone to the deceased, if s/he were still alive. IRD is taxed in the deceased taxpayer's estate rather than on the taxpayer's final income tax return. Such income includes accrued interest and dividends receivable at death, payments from deferred compensation plans, and individual retirement accounts.
