My mother died last year (2024) and she was already taking RMD from her IRA. She had taken 1/4 of the RMD, and the beneficiaries were responsible for taking the remaining 3/4 of her RMD. Several of beneficiaries withdrew more than my mother's required RMD. I took some the her required RMD and received a Form 1099-R from my Inherited IRA account. I realize that I have to start taking RMD on the inherited IRA this year based on the OLDEST's beneficiaries age.
Question1: I reported my mother's 1099-R on her 2024 Tax return, and the remaining amount was documented on the return on Form 5329-T with 'Explanation Statement' explaining that the remaining portion of her RMD were withdrawn by several beneficiaries. Is that ALL I need to do on mother's return?
Question 2: I received a 1099-R on my portion of the Inherited IRA. Do I report the amount on the 1099-R as an RMD?
Thanks for your help.
