Thanks, Opus 17 and dmertz. However, unless I'm misinterpreting Pub 590-B, the Appendix A-1 (Worksheet for Determining Required Minimum Distributions) appears to be for filers who are already at least age 72, when they would be required to commence taking RMD's. I am 65, and since there is no Appendix A worksheet for people age 65, how do I calculate the RMD? NOTE: I ended up using an online “Inherited IRA & beneficiary tool” calculator.
What I'm hearing from you both is that the 10-year rule requires--or will require--RMD's even if the owner of the Inherited IRA has yet to reach age 72. According to the table (Appendix B, 2022 version) in Pub 590-B, at age 65 my life expectancy is 22.7 years. So as an example, if the balance of the IRA was $50,000 at the end of 2023, I would divide that amount by 22.7 to calculate the RMD, which is approximately $2200. The above mentioned calculator confirmed this result.
Since my 20% withdrawal was well in excess of the RMD amount, I guess it can't hurt to indicate that “Only part of this distribution was a RMD”. It just seems superfluous when TT already knows from my previous inputs that a distribution from this inherited IRA is ineligible for rollover.
Thanks again to you both for the support!
