Surviving Spouse Taking RMDs in an inherited IRA
Hi,
IRA owner died at age 65 in 2016 and the surviving spouse, age 74, was the sole primary beneficiary. The surviving spouse established an inherited IRA and transferred the entire IRA. Since SECURE Act increased the RMD age, would the surviving spouse take the first RMD in 2021 when the IRA owner would have turned age 70 1/2 or in 2023 when the IRA owner would have reached age 72?
Thank you!
Permalink Submitted by Alan - IRA critic on Wed, 2021-05-19 23:00
72, because the IRA owner did not reach 70.5 before the end of 2019. Since her beneficiary RMDs would begin in 2023, and RMDs for her own IRA using the Uniform Table would be lower, she should elect to assume ownership of the inherited IRA by the end of 2023, and her 2023 RMD would be calculated as an IRA owner.