RMD question
Hi,
A client born 10/7/1918 who died 4/20/2023.
Her daughter born 9/28/1950 is her beneficiary.
The 2023 year end value was $23,535.
Can you please tell me what the 2024 RMD will be for the daughter?
Thanks,
George
Hi,
A client born 10/7/1918 who died 4/20/2023.
Her daughter born 9/28/1950 is her beneficiary.
The 2023 year end value was $23,535.
Can you please tell me what the 2024 RMD will be for the daughter?
Thanks,
George
Permalink Submitted by Alan - IRA critic on Mon, 2024-10-21 10:54
1,508.65, but the IRS has waived 2024 beneficiary RMDs for 10 year rule beneficiaries such as daughter, but they must start in 2025.
Daughter must complete client’s 2023 RMD by the end of this year if client did not complete it before passing. Client’s 2023 RMD would have been based on the 12/31/2022 balance divided by 4.6.