Inherited IRA distribution
I have a client that inherited an IRA from his father in 2006. He was taking distributions prior to his death. Since IRA distributions were suspended for 2009, he did not take a distribution. To figure the distribution amount, I used the single life expectancy subtracting 1 from the figure for each year since. How do I figure the distribution due in 2010? Do I subtract two years from the 2008 divisor or one year?
Permalink Submitted by Alan Spross on Tue, 2010-08-24 16:49
Subtract two years from the 2008 divisor. The 2009 waiver does not extend the total life expectancy period determined for the non spouse beneficiary as of the year following IRA owner’s death.