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Michigan RMD on Inherited IRA Taxable?
Hello, my wife inherited an IRA from her mother in 2019, and the brokerage firm started doing the required minimum distribution (RMD) on the inherited IRA account in tax year 2020. The RMD had been taxable in Michigan then. My wife was age 67 as of the end of 2024. The Michigan pension and retirement income rules changed in tax year 2024 (or before?), such that part or all of the retirements are not subject to state tax for people over certain ages. For the RMD on the inherited IRA, is the RMD considered as retirement income also and therefore not taxable in Michigan?
‎February 10, 2025
2:59 PM