IRA RMD after death in that year
If a person is over 70 1/2 and is taking RMD…..dies….can the estate take the RMD that year or does the spouse benficiary have to take posession and then take RMD?Could someone please clarify for me.
thank you in advance
Permalink Submitted by Denise Appleby on Mon, 2007-10-08 21:36
If the IRA owner had reached the required beginning date prior to death, and failed to withdraw the RMD for the year of death, the beneficiary of the IRA is required to satisfy that RMD amount. The amount is reported in the TIN of the beneficiary.