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Get your taxes done using TurboTax
Yes, you need to take distributions from the inherited IRA over the next 10 years, and be fully distributed in 2033. The distributions reported on the 1099-R are not labelled as RMD, but you can indicate that they are in TurboTax. That applies mainly to Rollovers, which you can't do with an inherited IRA anyway, so it's a moot point.
No, you didn't need to take an RMD in 2023.
No, this does not affect you making your annual contributions to your personal IRA.
Here's more info on IRS Requirements for RMD's.
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March 13, 2024
10:12 AM