iNHERITED NON-SPOUSE IRA
Father dies in 2022 at the age of 75. He was taking his RMDs yearly from his IRA. Son, age 56, sets up a non-spouse IRA. He would start his RMD in 2023 using the Single Table using the factor of 29.8 for age 57. For his RMD in 2024 his factor would be 29.8 – 1 = 28.8. Is this correct?
Permalink Submitted by Alan - IRA critic on Mon, 2022-10-10 22:13
Son must complete father’s 2022 RMD if father did not. Your divisors for son’s beneficiary IRA RMDs for 2023 and 2024 are correct under the IRS proposed Regs. However, there is always a chance that the IRS changes direction again and annual RMDs within the 10 year rule may not be required. Hopefully, this is clear at some point next year.