RMD for a Beneficiary
Mom died in July 2015. Her RMD for the year had been met.
The 3 kids were beneficiaries – one-third each.
The beneficiary IRA’s were not set-up until 2016.
The beneficiary IRA for one of the heirs was recently transferred to me, but his RMD for 2016 was not made at the old custodian.
It seems logical that we should use mom’s IRA balance as of 12/31/15 and divide by 3 when calculating my client’s RMD for 2016.
Is this correct?
Permalink Submitted by Alan - IRA critic on Thu, 2016-05-19 20:41
That would be correct as long as none of the beneficiaries took a distribution between July 2015 and 12/31/2015.