Value measurement time at death
DOD was 01/8/2018. The beneficiary was a trust. 10999-R shows distribution.
When I called brokeradvisor, they tell me that amount (value) was from the date of distribution. NOT date of death. Date of distribution is 6 weeks approximately after death.
I thought DOD is value reportable to IRS and distribution amount.
This is a national highly respected Broker dealer.
Permalink Submitted by Alan - IRA critic on Tue, 2019-05-07 15:56
If this was a lump sum distribution, the entire balance on the distribution date is distributed to empty the account. However, if the distribution was just the 2018 year of death RMD, the RMD is determined using the 12/31/2017 year end balance, not the date of death balance, despite the fact that the custodian may report the DOD value on Form 5498 for the decedent.