Can the entire RMD for personal IRA and inherited IRA come from 1 of the accounts?

Forum|Forum|7 years ago
June 6, 2019
12 replies
111 views

We want to take the entire RMD from the inherited IRA.

TurboTax Premier Windows

Best answer by dmertz

No, RMDs from inherited IRAs are not permitted to be aggregated with RMDs of personal IRAs.

The RMD for the inherited IRA must come from the inherited IRA. The aggregate of the RMDs from personal IRAs can come from the individual's personal IRAs in any combination. (If there is only one personal IRA, the RMD for that IRA must come from that IRA.)

SweetieJean

Alumni - Champ

Does the personal IRA have an RMD?

Personal-information-removedAuthor

Level 2

Yes in 2019

Personal-information-removedAuthor

Level 2

Yes

SweetieJean

Alumni - Champ

Then why are you asking now?

Personal-information-removedAuthor

Level 2

Because it is a slow time in accounting and planning ahead.

dmertzAnswer

Level 15

No, RMDs from inherited IRAs are not permitted to be aggregated with RMDs of personal IRAs.

dmertz

Level 15

If you are the spouse of the deceased and the sole beneficiary of the account, you are permitted to treat the inherited IRA as your own. In that case, if you treat the IRA as your own in some year after the deceased's year of death, you are treated as IRA owner for the entire year (and subsequent years) and your RMD for that year will based on you as owner so it will be aggregatable with the RMDs of your other personal IRAs. Whether it's beneficial for a spouse beneficiary to treat the inherited IRA as the spouse's own will depend on the relative ages of the deceased and the spouse and whether it will be beneficial for the spouses' beneficiaries to be able to treat the IRA as inherited from the spouse as owner instead of as successor beneficiaries.

A non-spouse beneficiary cannot treat the inherited IRA as their own.

AMShep

Level 2

OK - so if I am the spouse and sole beneficiary I can treat the account as my own - does this apply even if I do not roll the account into my own, but leave it as an inherited account? If I treat it as my own - do I still report it as RMD if I am not required to take based on my own age?

The deceased would have been 70.5 in 2016 - but I will not be 70.5 until2022...