10 Year clock for RMDs
If the Owner of a IRA died in 2020 at the age of 77 and the IRA is left to her child, does the 10 year rule start from year of death or the following year? I do realize that the child will now have to take a RMD based on her age for the years 1-9.
Permalink Submitted by Alan - IRA critic on Wed, 2023-02-01 18:56
The first year of the 10 year rule is 2021. Year 10 is 2030, therefore the inherited IRA must be drained by 12/31/2030.