Bene distribution count towards YOD RMD?
husband died in Feb at age 80. Wife is primary on almost all accounts except one where the son is bene for 50%. That son wants to take cash. That amount is right at the RMD for 2023. I just want to confirm, although the distribution will be taxed to the son as ordinary income, will that distribution count towards the year of death RMD for the deceased father?
Permalink Submitted by Alan - IRA critic on Mon, 2023-07-31 20:48
The cashout distribution of the son’s share will satisfy the year of death RMD only for the account naming the son. It will not count toward the year of death RMD for IRA accounts on which the son was not named.