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Reporting the transfer of a RMD requirement through an Inheritance IRA
The taxpayer received a partial payout of her RMD requirement before her death. The balance of her IRA account and the obligation for remaining required RMD was transferred as an Inheritance IRA to her beneficiaries. The beneficiaries received 1099-Rs showing their taxable income after they withdrew the remaining RMD obligation during the same tax year. What forms are filed by the estate of the original IRA owner to show that the RMD obligation was met by the beneficiaries? Is form 5329 filed explaining the transfer and identifying the beneficiaries who received the RMD income?
‎February 3, 2023
2:31 PM