RMD for under 70 1/2 spouse
Client inherited from her 72 year old husband IRA assets. he was drawing RMDS. She assumed the IRAs as her own, not as inherited accounts. She is 68. Is she required to take RMDs or does it revert to her age now?
Thanks
Permalink Submitted by Alan - IRA critic on Thu, 2018-11-29 22:37
Her RMDs for the now owned IRA do not begin until she reaches 70.5. However, she is responsible for completing husband’s year of death RMD if he did not complete it before passing. She must also file a 5329 requesting a penalty waiver if she did not complete his year of death RMD by the end of that year.