RMD Question
Hello, I have a husband and wife both 74 with traditional IRA’s and the wife passed away in November of 2017. The husband inherited her IRA in February 2018 and treated it as his own. The wife satisfied her RMD for 2017. My question is does the husband also use the wife’s 12/31/2017 account balance when calculating his 2018 RMD amount.
Permalink Submitted by Alan - IRA critic on Tue, 2018-10-16 21:46
Yes, that balance is used to determine his 2018 RMD, and he will use the Uniform Table with his age as of 12/31/2018. The divisor will therefore be the same as the divisor he will use for the IRA he has owned all along. He also may want to transfer one of these IRAs into the other as there are no tax related reasons not to. That said, he might want to use 2 different custodians or possibly have different beneficiaries on each.