My mother passed away in 2023. Her RMD for the year was around $29,000. At the time of death she had taken around $20,000 of her RMD, leaving $9,000 to still be taken. Her IRA had 3 beneficiaries - her spouse (90%), me (5%), and my sister (5%). I set up an Inherited IRA with my portion and I also instructed my advisor to process a $450 RMD for me (5% of the 9K left to take) so that I was taking my share of the remaining RMD.
I am now doing my taxes and am a little confused on how to answer some of the questions in the Turbo Tax tool that is walking me through this part. I have already told it that the IRA was inherited and that the $450 that I took was an RMD. Now it is asking me for more information, and specifically these are the 3 questions:
- {My Name} received all the RMD for 2023
- {My Name} did not receive all the RMD for 2023
- {My Name} was not required to take an RMD for 2023
Initially I thought the answer was 2, but when you pick that it takes you in to reporting as if you failed to take the whole RMD and need to ask the IRS for forgiveness. But I took my share. So now I am thinking maybe the answer is 1? It seems weird because of course I did not receive the entire $29,000 RMD that was due for my mom. But at least for my part of the inherited IRA, I took and received my entire portion ($450)? Is that what #1 is saying? I am leaning towards answering 1, but wanted some advice. Thanks!
