Just to Verify
Husband has inherited IRA from late wife. She died in 2018, and both were 59 at the time. He doesn’t need to take the RMD until his age of 70.5 since she died in 2018, correct?
Husband has inherited IRA from late wife. She died in 2018, and both were 59 at the time. He doesn’t need to take the RMD until his age of 70.5 since she died in 2018, correct?
Permalink Submitted by Alan - IRA critic on Mon, 2023-11-13 23:07
If wife would have been 59 at the end of 2018, his beneficiary RMDs do not begin until the year she would have turned 73, so he has many year left before he must take beneficiary RMDs. However, if he assumes ownership of the inherited IRA, being over 59.5, the same is true so her might as well elect to assume ownership now rather than waiting and perhaps missing the new deadline to assume ownership without doing a rollover.