RMD from inherited tira

Submitted by Richard Partin on Sat, 2015-08-22 13:24

I have let a brokerage firm determine my rmd’s for the last five years but now I have changed firms. My father was taking rmds at the time of his death in 2010 and I also took a rmd on that year. I was 57 years old in 2010. I have to take rmd next year and figure it out myself. Do I take the year I started taking rmds (57 years old) which had a life expectancy of 27.9 yrs. and decrease it one year each year. If so that would mean at 63 years old I would divide the sum of the IRA into 21.9(27.9-6yrs.)? Thanks for your help.



Submitted by David Mertz on Sat, 2015-08-22 13:56

  • As a designated beneficiary (I assume), your RMD is calculated on your life expectancy determined by your age in the year *after* the year of your father’s death in 2010, age 58 in 2011.  The divisor for figuring your 2016 RMD would be 27.0 – 5 = 22.0.  The account’s December 31, 2015 balance is to be divided by 22.0 to determine the amount of your 2016 RMD.  http://www.irs.gov/publications/p590b/ch01.html#en_US_2014_publink1000230783
  • The RMD that you were required to take in 2010 was the portion of your father’s 2010 RMD that was unsatisfied at that time of his death, not your own RMD.  RMDs based on your life expectancy began in 2011.

Submitted by Richard Partin on Mon, 2015-08-24 12:58

Thanks for the quick answer.

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