Normally, as a non-spouse beneficiary, you must directly roll over the inherited assets to an Inherited IRA and you will need to withdraw all assets from the inherited IRA within 10 years following the death of the original account holder. Exceptions to the 10-year distribution requirement applies to assets left to an eligible designated beneficiary. The Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, waives required minimum distributions during 2020 for IRAs and retirement plans, including beneficiaries with inherited accounts.
In TurboTax, if you turned 70 1/2 in 2020, there is no RMD as the Cares Act raised the age to 72.
