Inherited IRA 10-Year Exceptions
My client inherited IRA from her son, who had inherited the account from his father (the original IRA owner). Both son and father passed away after January 1, 2020. The current owner (the mother) is not 10 years younger than the original IRA owner.
Would she be able to stretch this inherited IRA over her lifetime as part of the exceptions provided or is she limited to the 10-year rule? Thanks!
Permalink Submitted by Alan - IRA critic on Fri, 2021-06-11 04:02
Son inherited from father post Secure and assuming son was not disabled or a minor was subject to the 10 year rule. Upon son’s death mother is a successor beneficiary and is only able to complete the 10 year rule of the son. Mother does not get a new 10 year rule, in fact there is no scenario where an inherited IRA under the 10 year rule can result in a new 10 year rule when next inherited.