When I went to the IRS link, it said non-spouse beneficiaries make RMD's based upon the younger of either my deceased mother's age or my age? I'm 53, so within the 10 years I won't have to make any RMD's? (I did apparently have to take her calculated RMD this year....it was sent to me as a check and I had them take out 25% for taxes just to be conservative and thus was left to roll over 55K to the Vanguard Inherited IRA account).https://www.irs.gov/retirement-plans/re ... eficiariesAn inherited IRA, as non-spouse, for a mother who was already required to take RMD's. I think I just have to remove it all in ten years? The firm I transferred it from did cut me a disbursement check for the remaining amount she was required to take this year (obviously she was already taking the RMD's according to her age). I had them take out 25% for taxes just to spitball.Do inherited IRAs have a required withdrawal per year?
Others will know for sure but I wanted to put that out there.
Good question. I will say this...........researching online for this scenario (Inherited IRA, Non-spousal, from someone who was well over 72 and already taking RMD's) has been a frustrating exercise to get detailed information.
HICI agree with the other comments. The ten year mark is meaningless. Base your investment choices on when you will spend the money, not on when the money will be transferred from one account to another.Distribute based on owner’s age using Table I
Use owner’s age as of birthday in year of death
Reduce beginning life expectancy by 1 for each subsequent year
Can take owner’s RMD for year of death
Am I understanding that right? As long as Uncle Sam doesn't change RMD rules for people like me, then I could wait and not take any withdrawals over the ten years?
HIC
Statistics: Posted by HaysInCommonwealth — Fri Jul 12, 2024 3:15 am — Replies 20 — Views 1932