Q: The account
owner, age 65, dies
in 2021 and is
survived by a 35
year-old spouse (30
years his junior –
sole beneficiary of
a traditional IRA).
What are the rules
(options) for the
surviving spouse?
Answer
Q: I am 56 years
old and have an IRA
which I have been
taking SEPP/72(t)
payments since 2008.
I have not yet taken
my distribution in
2021. I recently
received a finding
of disability from
SSA which has been
assigned an onset
date in September
2020. Back pay will
only be for Feb-Apr
of 2021, so nothing
effects prior tax
years. Can I
suspend/stop my
SEPP/72(t)?
Answer
Q: I
have a question
about clients who
have inherited
IRAs and need to
take an RMD for
2021 but did not
take their 2020
RMD because of the
RMD waiver. Will
they use the life
expectancy number
they used for 2019
RMD and subtract 1
or subtract 2 from
that number to
account for the
skipped 2020 RMD?
Answer
Q: I have four
IRAs. Does the
once-per-year IRA
rollover rule mean I
can only take one
distribution per
year in total or
does it mean I can
only take one
distribution per
year from each of my
four IRAs?
Answer
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