Non-Spousal IRA RMD
Mother age 77 passed away in 2007 with a balance of $70k as of 12/31. Beneficiaries are 50-50 to son (age 46 in 08) and daughter (55 in 08) equally. RMD for 2007 was made to mom.
How do we calculate the RMD we must take for 2008 and after……..after transferring the shares to separate IRA’s?
All the calculators I find assume the beneficiary is 70 1/2.
Thanks
Permalink Submitted by Alan Spross on Mon, 2008-02-11 18:50
You are looking at the wrong table, the Uniform Table. Non spouse beneficiaries taking RMDs over their individual life expectancies use Table I, which starts on p 88 of Pub 590.
The year end 2007 balance that applies to each beneficiary would be divided by 37.9 to determine the son’s 2008 RMD, and 29.6 for the daughter, providing that the ages you posted are their attained ages on the their birthdays in 2008. For each year after 2008, the above divisors are reduced by 1.0.