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I get money from a deceased family member's IRA every year and it is asking if I received all of the RMD for 2016 but I don't have any idea how to find the answer to that

I don't remember it asking me that last year and I don't know what the RMD for the account is, I just get the check.
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IsabellaG
Expert Alumni

I get money from a deceased family member's IRA every year and it is asking if I received all of the RMD for 2016 but I don't have any idea how to find the answer to that

If you've inherited an IRA from a family member who was not your spouse, you can elect to receive distributions over time rather than all at once. It sounds like that's what is going on with you.

At the time that you inherited this IRA, a calculation should have been made,by you, by the custodian or by the plan administrator, to determine the Required Minimum Distribution (RMD) that you need to take out of the account this year. The amount is based on the value of the account and on a life expectancy factor.

It sounds as if you are getting the RMD each year, but since it is ultimately your responsibility to take these distributions, you should check with the IRA administrator to make sure.

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1 Reply
IsabellaG
Expert Alumni

I get money from a deceased family member's IRA every year and it is asking if I received all of the RMD for 2016 but I don't have any idea how to find the answer to that

If you've inherited an IRA from a family member who was not your spouse, you can elect to receive distributions over time rather than all at once. It sounds like that's what is going on with you.

At the time that you inherited this IRA, a calculation should have been made,by you, by the custodian or by the plan administrator, to determine the Required Minimum Distribution (RMD) that you need to take out of the account this year. The amount is based on the value of the account and on a life expectancy factor.

It sounds as if you are getting the RMD each year, but since it is ultimately your responsibility to take these distributions, you should check with the IRA administrator to make sure.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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