@Anonymous_ - can you please clarify one aspect of you answer?
@fanfare
If the IRA owned passed in 2020, the beneficiary has 10 years to liqudate the account, with RMDs along the way.
But given all the confusion over the rules implementation of the SECURE ACT, I thought I read that the IRS decided that while the beneficiary was required to take the RMD in 2021 and 2022, the penalty for not doing so was zero (instead of the normal 50%).....
so in this situation, while there is a requirment to take the RMD in 2023 as stated, that is YEAR 3 of the 10 years...... can you clarify that is the case?
