Q: I have a
client who died in
2021 before taking
his 2021 RMD. He
designated various
charities as
beneficiaries of his
IRA.
The
IRA custodian is
advising the
executor to take the
RMD, however
according to a
previous post by Mr.
Slott, Revenue
Ruling 2005-36
states in this
scenario the RMD is
to be paid to the
beneficiaries. I
suggested the client
ask the custodian to
request confirmation
from their legal
department. Any
other steps?
Answer
Q: Would
a person who took
a CRD from his IRA
in 2020, with
intent to repay
within 3 years, be
disqualified from
taking a
distribution and
making a 60-day
rollover in 2021
if it is within 12
months of the CRD?
Answer
Q: If you are
an employee who
participates in a
401(k) who retires
at age 73, do you
have to take an RMD
in the year you
retire, or can you
take your RMD by
April 1 of the year
following
retirement? If you
can take your RMD by
April 1 of the
following year, does
that mean you have
to take two RMDs in
that year?
Answer
Q:
I recently
saw an email from
you on QCDs when
deductible IRA
contributions are
made in the same
year. It discussed
how these two
transactions
interact with each
other. I am also
wondering if the
offset to the QCD
would also occur for
a SEP IRA or SIMPLE
IRA contribution?
Answer
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