RMDs for Inherited IRAs
As I mentioned under another topic I have a Trust with an Inherited IRA in the main Trust which I use for 2 of the Beneficiaries and 2 other Beneficiaries have their own Inherited IRA’s in Sub Trusts under the main Trust. The oldest Beneficiary, age 89, is in one of the Sub Trusts. Since she is the oldest, as long as I use her age and take the RMD amount for all the other Inherited IRA’s combined can I forgo the RMD for her Sub Trust? Thanks!
Permalink Submitted by Tom Craigers on Thu, 2024-11-28 22:22
Yes, Schwab is only going to distribute the money to the main Trust Inherited IRA which my father’s Estate lawyer obtained new Tax ID (EIN) for. Schwab is creating 2 Inherited IRAs for the Sub Trusts and according to them it is up to me to do the transfers from the main Trust Inherited IRA because I am the Trustee. The Sub Trusts also have new Tax IDs which my father’s Estate lawyer obtained when creating the Sub Trust documents .