RMD for age 80 designated beneficiary from 55 year old son
Son age 55 dies and leaves IRA to his mother as designated beneficiary. Mother is age 80. Son died in 2006, when is the first RMD and do we use the mother’s age to calculate the RMD?
I believe we use her age to calculate and the first RMD is due by 12-31-07. Their broker is adamant that we use son’s age and therefore no RMD is due for another 16.5 years. Broker calls this a Beneficiary IRA account.
Permalink Submitted by Al Fry on Wed, 2007-10-31 20:03
Unless they were married (hopefully not), the death RMD must come out by 12.31.07. IF the son had been past his RBD, the mom could have used his age for RMD calulation purposes to calculate the RMD. Since he was not past his RBD, she must use her age. Reference IRS Pub. 590, p. 36.