Benefactor Died in late 2023. Both Benefactor and Beneficiary are well into the RMD age group. The Beneficiary is not the spouse, minor child, disabled, or chronically ill but is less than 10 years younger than the benefactor.
1) The Beneficiary is required to take an RMD in 2024 based on the value of the Inherited IRA Dec 31, 2023. (Taxes and RMDs for 2023 were paid by the estate).
Please confirm that the Beneficiary can elect the Lifetime Distribution.
Please confirm that for an individual age 78 in 2024, the Dec 31, 2023 value is divided by the age factor 22.
The question arises because the Inherited RMD calculator at Vanguard produced a much larger RMD, less than the 10-year requirement but more like 12-13 years than 22.
