RMD
A potential client asked me this question regarding his RMD for 2007. His wife passed away in 2007 and he cashed out her IRA through the beneficiary designation listing him as primary bene. He did not roll the IRA into his. Could that distribution satisfy his personal RMD for 2007?
Permalink Submitted by Alan Spross on Thu, 2007-12-13 02:28
Not unless he took steps to assume the IRA as his own prior to the distribution. That can be determined by the registration of the account at the time of the distribution.
Permalink Submitted by Al Fry on Thu, 2007-12-13 04:20
Allen – too bad he was not a client of yours so he would have gotten better advice!
Permalink Submitted by Allen Broyles on Thu, 2007-12-13 14:24
Thanks. That’s what I thought.