Pre-2020 Rules Mother Inherited 30 yr old Daughter’s IRA back in 2014
I have a new client who is turning 73 this year (year of birth is 1951) who informed me this week that she inherited her daughters IRA when her daughter died back in 2014. The daughter was only 30 years of age at her year of death. I am having a hard time digging up the Pre-2020 rules, but in this case, would the mother, despite herself not being of RMD age back in 2014, be relegated to take annual RMDs from her daughter’s IRA for the last 10 years? If so, and she missed the last 10 year, will she satisfy the old rules by taking the lump sum out in the 10th year? And if not, what rules is the mother held to?
Permalink Submitted by Alan - IRA critic on Fri, 2024-01-19 23:23