Death in a non-RMD year
Client is over 70 1/2….dies in 2009 ( a non-RMD year)…Spouse chooses to roll his IRA into her IRA in 2010. Does she need to take any RMD?
Client is over 70 1/2….dies in 2009 ( a non-RMD year)…Spouse chooses to roll his IRA into her IRA in 2010. Does she need to take any RMD?
Permalink Submitted by Anonymous (not verified) on Wed, 2010-02-03 17:53
Only if she will turn 70 1/2 in 2010 or is already taking RMDs.
pko
Permalink Submitted by James Rosato on Wed, 2010-02-03 18:16
One other item…As I understand it, when she rolls his IRA into her’s in 2010, she will have to add in the value of the deceased husbands IRA to her 12-31-09 valuation in order to compute her RMD…True?
Permalink Submitted by Anonymous (not verified) on Wed, 2010-02-03 18:21
Yes. If this transfer did not occur in 2009, the adjustment must be made. Technically, she owned the IRA at the point of his death (I assume as 100% beneficiary).
pko