Inheirted IRA

[trixie44224]

Spouse and daughter 50% each. Owner died this year at age 80. Can we split his RMD requirement this year or only one take the entire amt? Can spouse roll into her IRA since she is not the sole beneficiary to avoid the 10 year rule imposed on a separate inherited IRA?

[JaredS_CPA]

Hello trixie44224,

Thanks for participating in our Ask the Experts event today. As to your question, the spouse can either choose to be treated as the account owner or roll her portion of the IRA into her own IRA and apply the RMD rules to her own situation. However, while that is what the IRS allows, each institution may be different in whether or not they allow a surviving spouse to keep the same account, create another one, or require they roll it out.

The daughter, on the other hand, has 10 years to withdraw her portion where the RMD rules do not apply to her situation.

Here is a good article that will give you more information.

[dmertz]

Regarding completing the decedent's 2023 RMD, the decedent's year-of-death RMD can be completed by spouse, daughter or both in any combination.