RMD from Decedent’s IRA
Husband died in May of 2018, was 90 years old and had been taking RMD’s from his traditional IRA.
Wife, age 85, was beneficiary of husband’s IRA – it was rolled into her traditional IRA
If husband did not take RMD in 2018 prior to his death, was wife required to take RMD from her IRA in 2018 including amount received from husband’s IRA?
Is the value of the husband’s IRA , for RMD purposes, calculated on 12/31/2017 or some other date?
Permalink Submitted by Alan - IRA critic on Mon, 2019-03-25 15:38
She should have completed his RMD based on the 12/31/2017 value by year end 2018. However, that RMD would have been completed if she took a distribution from the inherited IRA without first electing to assume ownership. This can be determined from the 1099R for his IRA, if any, if code 4 is reported in Box 7. Whether that RMD was actually completed depends on the 1099R. If there was no 1099R, it might mean that the rollover was in 2019. Therefore, more specific are needed to determine if that RMD was completed or not, and when.