2013 RMD question
Hubby – DOB: Aug. 23, 1921 DOD: Dec. 23, 2012
Wife – DOB: Feb. 9, 1925
Both have IRAs, both took their YR2012 RMDs.
Wife is the primary beneficiary of the husband’s IRA.
The hubby’s IRA had a balance on 12/31/2012. Should his YR2013 RMD be taken from his IRA prior to distributing the assets to his wife’s IRA?
Thank you in advance.
Permalink Submitted by Alan - IRA critic on Tue, 2013-01-22 23:55
No. If the surviving spouse does a rollover of the inherited IRA in any year after the year of death, the surviving spouse is treated as if they were the owner of the IRA for the entire year. Therefore, wife would do the rollover and add the 12/31/2012 value of the inherited IRA to her own IRA 12/31/2012 balance for determining her 2013 RMD. She does not need to take her 2013 RMD until the end of 2013.