Hello,
My 91-year-old Dad passed in 7/2024 and had not taken his RMD for 2024.
His IRA account was closed and via a Custodian to Custodian transfer, the funds were moved to a credit union where my Mom (87 years old at the time) opened a new Traditional IRA CD in her own name.
We then took my Dad’s final RMD for 2024.
My Mom’s Traditional IRA CD that she’d had for many years matured at another bank in 2024 and we had it moved via Custodian to Custodian to the credit union where we had put my Dad’s IRA I had my Mom take an RMD from “her” IRA and the one she got from my Dad. The credit union sent a 2025 1099-R showing the combined RMD amount taken from “her” IRA and the one she got from my Dad. The Box 7 code is “7.”
My question is - on TT for the credit union 1099-R where it says, “Do any of these situations apply to you?”, do I check the box that says, “I inherited this IRA?” Or because the IRA was opened in my Mom’s name in 2024, the 1099-R is under only her name, and Box 7 uses Code 7, is this IRA fully considered HERS, and I just check the box that says none of this applies to her?
Thank you so much for any help someone can provide me.
