She passed in August 2023 at the age of 93. I know the rules have changed in the last few years and don't want to make a mistake.
I found this in Publication 590-B... "If the owner died on or after the required beginning date, the IRA beneficiaries are responsible for figuring and distributing the owner's required minimum distribution in the year of death." So I assume there are no penalties?
I made the beneficiaries aware (once I found out in January 2024) and believe they need to make RMDs for 2023 as a beneficiary by 4/15/24... but can't find the source for this information (I read it somewhere). Does this sound correct?
Turbotax asked about info for form 5329 (part IX) that I provided (I explained what happened, that 96% of the RMDs were taken and that the beneficiaries were informed they need to take RMDs).
Do I need to do something else?
Thanks in advance!!
Thanks in advance.
