IRA Beneficary End of Year
A friend came to me about a situation involving end of year death and RMDs. A 75 year old individual died in December of 2021 with and IRA and had taken all required RMDs for the year. The account had a designated beneficiary as the spouse. The account was not rolled over to the beneficiary (spouse) until January 20th of 2022.
Since the account was not rolled over as of December 31st 2021, are those RMDs from the original account owner now set for 2022? Or does the designated beneficiary get to take their own RMDs for 2022?
Jamie
Permalink Submitted by Alan - IRA critic on Wed, 2022-10-12 13:56
The surviving spouse (if they rolled over to their own IRA) is treated as owning the IRA for the entire year of 2022. Therefore, if the spouse is subject to RMDs for 2022, they would use the 12/31/2021 balance for the inherited IRA and their attained age in 2022.