Inherited IRA rmd prior to 2020
Client inherited her son’s IRA after his death on 4-17-17.
She has been taking the RMD every year.
With the new rules:
- Does she have to take the RMD for 2024 since this is prior to Secure Act?
- Is the RMD for this type of inherited IRA waived also?
- She does not have to liquidate this Inherited IRA within the 10yrs, correct?
Thank you for clarification.
Douglas
Permalink Submitted by Alan - IRA critic on Thu, 2024-09-12 11:12
Yes, she must take a 2024 beneficiary RMD as was the case for all prior years except 2020. The IRS did not waive these RMDs as they are not part of the 10 year rule, which does not apply to her. She should also have reset her RMD divisor in 2022 to reflect the new tables, and continue to reduce the divisors by 1.0 each year.