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Depending on the terms of the IRA will determine if you have a RMD. Required Minimum Distribution (RMD) is the lowest amount you can withdrawal form you retirement account. This can be SEP, SIMPLE, or traditional IRA, 401(k), profit-sharing, 403(b), or any other defined contribution for the the year.
Per the IRS, "The factors that affect the distribution requirements for inherited retirement plan accounts and IRAs include:
See the link below for more information:
First, remember that "RMD" is the minimum amount you must withdraw, you can always withdraw more if you want to. The reason Turbotax needs to know what your RMD was is because there are a few things you can't do with your RMD (like deposit it into another IRA).
Yes, inherited IRAs generally have an RMD requirement. Exactly how much that is depends on who the original owner was in relation to you, how old they were, and when they died (because the laws have changed). Can you provide us those details?
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