Inherited IRA, deceased Not RMD age
If a child inherits their mother’s Traditional IRA, and the mother was age 66, does the child have to start RMDs? the five year stretch and/or lifetime option….OR can they WAIT until they are age 701/2? Thanks.
If a child inherits their mother’s Traditional IRA, and the mother was age 66, does the child have to start RMDs? the five year stretch and/or lifetime option….OR can they WAIT until they are age 701/2? Thanks.
Permalink Submitted by Alan - IRA critic on Fri, 2017-11-03 18:58
The child should start life expectancy RMDs in the year after mother’s death. The 5 year rule election is also an option, but a much inferior option in almost all cases. Waiting until 70.5 is not an option.