Retirement tax questions

Assuming your father reached beginning age for RMDs,

 

Step 0.  Get IRA retitled with your name as beneficiary.

 

Step 1.  determine the RMD your father owed from his record or the custodian. If more than $500, the balance must be taken before current Tax Day by one or more siblings.

Step 2. each sibling must calculate continuing RMDs based their age. The first RMD is required by Dec 2026.

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