RMD for Surviving Spouse
If spouse inherits IRA as beneficiary and intends to retitle into own name, is spouse required to take RMD amount out for the year of death PRIOR to retitling into own name? In this instance, spouse intends to continue monthly distributions in an amount that will satisfy RMD requirement by the end of the year anyway. Just need to know if that amount has to be withdrawn prior to the retitling. Tks.
Permalink Submitted by Jose Morales on Mon, 2015-07-06 21:55
It will be reportable to the beneficiary either way, only if done from the deceased’s IRA it will have a distribution code 4 (death distribution) whereas the distribuitons after moving into an account in their own name will have a distribution code 7 (normal distribution).