Thanks All. I do appreciate your help and input.
A few related questions regarding this inherited IRA situation: Decedent had three separate IRAs (thankfully all at same fund firm, T Rowe): a SEP, a Roth and a traditional.
- Is the RMD necessary given Congress's waiver of RMDs for this year given COVID? I.e. Does the waiver apply to my son, the beneficiary?
- If son takes 10% out of IRAs for 2020 does this satisfy decedent's RMD?
- Can necessary withdrawal come from any one of the IRA accounts or does it have to span some proportion of each of the three?
- How does my son figure out the RMD for 2020 as decedent had not taken RMD for 2020 prior to passing/death?
- Did 10 year withdrawal rule go into effect at year of descendant's death or does the 10 year clock start next year?
Thank you All.
