Post 12/31/2019 Inherited IRA RMD’s
If a designated beneficiary of an IRA inherited from a decedent dying in 2020 failed to take an RMD in 2021 through 2023, how is their RMD for 2024 calculated? The decedent was past his RBD. It seems that it should be based on the life expectancy from the single life table from 2021 less less one for each year since then. But I’m not certain that this is correct. I’d appreciate any advice. TIA, Steve
Permalink Submitted by Alan - IRA critic on Wed, 2024-01-03 19:04
Yes, the 2024 RMD divisor would be 3.0 less than what the 2021 divisor would have been using the 2022 RMD single life table as if that table was applicable in 2021. The 10 year rule still requires that the inherited IRA be drained by the end of 2030.
Permalink Submitted by Steve Pollock on Wed, 2024-01-03 20:12
Much appreciate your help, Alan!