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taxtime359
New Member

If you inherit ira or retirement account is it an rmd when account is cashed in and paid out to beneficiary ?

 
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MaryK1
Level 9

If you inherit ira or retirement account is it an rmd when account is cashed in and paid out to beneficiary ?

Yes, the RMD is the required MINIMUM amount that the decedent was required to withdraw from the account for the year- if you withdrew all the money you fulfilled the RMD requirement.  Sorry for you loss.

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MaryK1
Level 9

If you inherit ira or retirement account is it an rmd when account is cashed in and paid out to beneficiary ?

Yes, the RMD is the required MINIMUM amount that the decedent was required to withdraw from the account for the year- if you withdrew all the money you fulfilled the RMD requirement.  Sorry for you loss.

**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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