Unbelievable informative information dmertz! You are a wealth of knowledge and I thank you for taking some time out of your day to educate me. I talked with the IRS yesterday (not sure who I was talking to actually knew all of the law), and she told me that if each individual inheriting the IRA did not take a RMD, there would be a penalty for excess contributions to an IRA. What I think you are saying is that all 3 adult children can open inherited IRAs and as long as the year of death RMD is taken by any combination of the kids, the 3 them of them would then be good to go and there would not be an issue of excess contributions because the correct amount of RMD was taken in 2019. Did I summarize correctly? Thanks again for any replies.
Bill
