In herited Ira ofr non-spouse
If a non-spouse inheirted an ira 8-3-2011 and the decedent was taking RMD’S but had not taken one for 2011 what date would be used to calulate the RMD for the benf. that needs to be made by 12-31-2011.
If a non-spouse inheirted an ira 8-3-2011 and the decedent was taking RMD’S but had not taken one for 2011 what date would be used to calulate the RMD for the benf. that needs to be made by 12-31-2011.
Permalink Submitted by Alan Spross on Thu, 2011-10-13 19:20
The 2011 RMD is the beneficiary must take is the same amount that the decedent would have taken. It would be based on the 12/31/2010 account value and the age decedent would have reached in 2011.
If decedent had other IRAs, the RMD could have been satisfied from another IRA. Likewise, if decedent had a number of IRA accounts inherited by different people, the RMD could be satisfied by another beneficiary would wants to take a distribution. Of course, that would require coordination and communication between beneficiaries.