Just want to make sure I understand correctly. I also inherited an IRA from my dad and had it directly transferred from dad's Commonwealth IRA to a Schwab Inherited IRA Account that was created for this purpose. I did take out the RMD from the Schwab Inherited IRA Account in December 2024 because I didn't know at the time I was supposed to take it out and my dad had passed in July 2024.
It sounds like you are saying that I should NOT have gotten a 1099R from Commonwealth since it was a direct transfer to the Schwab Inherited IRA account and I should also contact Commonwealth to rescind the 1099R - correct? I do have paperwork from Commonwealth about the death benefit, and documents in the Schwab Inherited IRA account indicating there was a transfer into the account from Commonwealth including a picture of the check.
I did take the RMD from the Schwab Inherited IRA account but I am stating to TT that the $7000 I took out from the Schwab Inherited IRA account didn't require me to take out an RMD (since it actually was the RMD). Is this correct?
I did not get a form 5498 from Commonwealth. Should I have?
Thank you.
