Spouse inherts husband’s beneficiary IRA origninally his sister’s
My client inherited a beneficiary IRA from her husband that originally belonged to his sister.
The sister had not reached required beginning date (70.5 at the time) when she died.
Husband died earlier this year. Client will have to take his 2022 RMD.
If I read your Newsletter and Report correctly, she qualifies for the 10 year “limit” and will not have to take any money out for annual RMD’s. She will likely want something every year, but want to know how flexible that could be. i.e skip a year from time to time.
Appreciate your input.
Permalink Submitted by Alan - IRA critic on Tue, 2022-03-29 20:22
Client’s husband was a pre Secure Act stretch beneficiary. Client is now the post Secure successor beneficiary subject to the 10 year rule. However, because the original owner passed prior to RBD, the client is not required to take annual RMDs (other than completing husband’s 2022 stretch RMD). Client must drain the inherited IRA by 12/31/2032.