Timing of transfer of Wife’s IRA to spouses IRA
We have transferred a spouse’s IRA in 2022 to a 74 year old and we are calculating his RMD for 2022. He did not have to take a 2021 RMD from the Spouse’s IRA because she passed away in 2021 before her full retirement date of 4/1/2022. Do we include the transferred amount in calculating his 2022 RMD?
Permalink Submitted by Alan - IRA critic on Mon, 2022-10-31 14:48
Yes, if the inherited IRA (or inherited 401k) was rolled into his own IRA in 2022, he is treated as owning the IRA for the entire year, and the 12/31/2021 balance on that account is used to calculate his 2022 RMD. Depending on spouse’s DOB, if he had left the account in inherited status, he might not have needed to take a 2022 beneficiary RMD. Would need to know her DOB and DOD to determine this, but since he now owns the IRA it really does not matter.
Permalink Submitted by Denise Sowell on Mon, 2022-10-31 15:20
Thank you for your response.