If you as adesignated beneficiary, you need to use the same RMD that the account owner would have used for the year they died. RMD rules vary depending on whether you are a surviving spouse, a minor child, or a disabled individual. If you inherit an IRA from an account owner who died...
Beneficiaries must take RMDs, and IRS rules are based on the type ofbeneficiary. Beneficiaries are also subject to the 25% excise tax if they miss their RMD deadline.4 But there is one instance where a beneficiary can get an automatic waiver of the excise tax. If you are adesignated bene...
Step 1 Use the single life expectancy table to find the expected distribution period for your beneficiary IRA if the deceased was at least 70 1/2 years old. (If the deceased was not 70 1/2, you are not required to take RMDs.) On the table, locate your age under the "Age" heading ...
IRA subdivided into trusts for each beneficiary satisfied RMD rules.(required minimum distribution)O'Driscoll, David
Once the deceased's RMD liability is resolved, a spouse has a few alternatives for acquiring management of the inherited IRA. Continue to Be an IRA Beneficiary. The account is an inherited IRA, with future RMDs based on the deceased original owner's age. Take Ownership of the IRA. Future ...