Thanks!
To clarify: death was in 2024. Death year (2024) RMD was distributed by inherited IRA 2/2025. Inherited account has only been open a week. Late RMD letter sent by brokerage said we have to request a penalty exemption for the late RMD. (I see conflicting info about this). Do we request this exemption on the taxes I'm in the process of compiling right now for tax year 2024? Or on next year's? Or do we get an automatic penalty exemption? Lastly: Do we have to take another RMD in 2025?
We found out about IRA 2 two days ago. I imagine it will be the same process...
Thanks again!
