Schwab site states that per IRS reg’s of July 18, 2024 certain spouse beneficiaries..” are eligible to calculate their 2024 RMD based on the Uniform Life Table (vs the Single Life Table), thereby reducing their minimum distribution..”
Assuming IRA owner died in 2023, his wife was more than 10 yrs younger than he, and she is sole beneficiary of his regular IRA, which Table does she use in 2024/25?
She is 72 and should assume ownership of the inherited IRA before year end. Being 72, there will be no RMD due for 2024. In 2025 her own RMDs would begin using the Uniform Table for age 73.
The Schwab statement only applies to surviving spouses who would benefit by remaining a beneficiary. This spouse would not benefit and should assume ownership of the inherited IRA before year end. That will erase the 2024 beneficiary RMD.
The owner should have completed his 2023 RMD before passing that late in 2023, but if he did not she must complete that RMD before the end of 2024.
Permalink Submitted by Alan - IRA critic on Wed, 2024-11-13 12:48
She has the original 2 choices for her inherited IRA plus the new option, but it is not clear which option is preferable in this situation. Would have to know the DOB and DOD of the deceased spouse and the DOB of his wife.