topic I have a 1099r for an IRA which I inherited from my mother who inherited it from her mother. Can you tell me if the RMD is based on my age or my mother? in Retirement tax questions https://ttlc.intuit.com/community/retirement/discussion/i-have-a-1099r-for-an-ira-which-i-inherited-from-my-mother-who-inherited-it-from-her-mother-can-you/01/639541#M60644 Thu, 06 Jun 2019 08:09:16 GMT jpwasdin 2019-06-06T08:09:16Z I have a 1099r for an IRA which I inherited from my mother who inherited it from her mother. Can you tell me if the RMD is based on my age or my mother? https://ttlc.intuit.com/community/retirement/discussion/i-have-a-1099r-for-an-ira-which-i-inherited-from-my-mother-who-inherited-it-from-her-mother-can-you/01/639541#M60644 Thu, 06 Jun 2019 08:09:16 GMT https://ttlc.intuit.com/community/retirement/discussion/i-have-a-1099r-for-an-ira-which-i-inherited-from-my-mother-who-inherited-it-from-her-mother-can-you/01/639541#M60644 jpwasdin 2019-06-06T08:09:16Z You are a successor beneficiary.  A successor beneficiary... https://ttlc.intuit.com/community/retirement/discussion/you-are-a-successor-beneficiary-a-successor-beneficiary/01/639548#M60646 <P>You are a successor beneficiary.&nbsp; A successor beneficiary must continue the distribution schedule of the original beneficiary, so in this case the RMDs would be based on your mother's age on her birthday&nbsp;in the year following the year in which her mother died, reduced by one for each subsequent year, just as your mother would have been required to&nbsp;take had your mother not died.&nbsp; If your mother did not complete the beneficiary RMD for the year of her death, that responsibility falls to you.<BR /></P> Thu, 06 Jun 2019 08:09:18 GMT https://ttlc.intuit.com/community/retirement/discussion/you-are-a-successor-beneficiary-a-successor-beneficiary/01/639548#M60646 dmertz 2019-06-06T08:09:18Z This is a question for the IRA custodian ... they should... https://ttlc.intuit.com/community/retirement/discussion/this-is-a-question-for-the-ira-custodian-they-should/01/639561#M60649 <P>This is a question for the IRA custodian ... they should have told you what you are required to take out and the other options on the distribution.&nbsp;</P> Thu, 06 Jun 2019 08:09:21 GMT https://ttlc.intuit.com/community/retirement/discussion/this-is-a-question-for-the-ira-custodian-they-should/01/639561#M60649 Critter 2019-06-06T08:09:21Z Who's name in on the 1099-R?  Your mother or grandmother?... https://ttlc.intuit.com/community/retirement/discussion/who-s-name-in-on-the-1099-r-your-mother-or-grandmother/01/639571#M60653 <P>Who's name in on the 1099-R?&nbsp; Your mother or grandmother? (With you as benificuary).</P><P>That would be the owner of the IRA.&nbsp;&nbsp; Assuming that the owner was 70 1/2 or older when they died, then:</P><P>Per IRS Pub 590B:&nbsp; <A rel="nofollow" href="https://www.irs.gov/publications/p590b#en_US_2018_publink1000230756" target="_blank">https://www.irs.gov/publications/p590b#en_US_2018_publink1000230756</A></P><P>"Owner Died On or After Required Beginning Date </P><P>If the owner died on or after his or her <A rel="nofollow" href="https://www.irs.gov/publications/p590b#en_US_2018_publink1000230726" target="_blank"> required beginning date</A> (defined earlier), and you are the designated beneficiary, you must base required minimum distributions for years after the year of the owner's death on the longer of:</P> <DIV> <UL> <LI> <P>Your single life expectancy shown on <A rel="nofollow" href="https://www.irs.gov/publications/p590b#en_US_2018_publink1000231236" target="_blank"> Table I</A> in Appendix B as determined under <A rel="nofollow" href="https://www.irs.gov/publications/p590b#en_US_2018_publink1000230768" target="_blank"> <EM>Beneficiary an individual</EM> </A>, later; or</P> </LI> <LI> <P>The owner's life expectancy as determined under <A rel="nofollow" href="https://www.irs.gov/publications/p590b#en_US_2018_publink10002917" target="_blank"> <EM>Death on or after required beginning date</EM> </A>, under <EM>Beneficiary not an individual</EM>, later."</P> </LI> </UL> </DIV><P> <BR /> </P><BR /><BR /> Thu, 06 Jun 2019 08:09:23 GMT https://ttlc.intuit.com/community/retirement/discussion/who-s-name-in-on-the-1099-r-your-mother-or-grandmother/01/639571#M60653 macuser_22 2019-06-06T08:09:23Z mu understanding is an Inherited IRA cannot be passed on... https://ttlc.intuit.com/community/retirement/discussion/mu-understanding-is-an-inherited-ira-cannot-be-passed-on/01/639579#M60656 mu understanding is an Inherited IRA cannot be passed on death&nbsp;&nbsp;to another beneficiary as an Inherited IRA. Thu, 06 Jun 2019 08:09:24 GMT https://ttlc.intuit.com/community/retirement/discussion/mu-understanding-is-an-inherited-ira-cannot-be-passed-on/01/639579#M60656 fanfare 2019-06-06T08:09:24Z What happens to an inherited IRA when the beneficiary die... https://ttlc.intuit.com/community/retirement/discussion/what-happens-to-an-inherited-ira-when-the-beneficiary-die/01/639587#M60658 <DIV> <DIV>What happens to an inherited IRA when the beneficiary dies?</DIV> </DIV><DIV> <BR /> </DIV><DIV> <DIV> <DIV><DIV><SPAN>If Chris is the&nbsp;<B>beneficiary</B>&nbsp;of an&nbsp;<B>inherited IRA</B>&nbsp;and he&nbsp;<B>dies</B>, the heirs he designated as his&nbsp;<B>beneficiaries</B>&nbsp;will become successor&nbsp;<B>beneficiaries</B>&nbsp;to the&nbsp;<B>inherited IRA</B>. These successor&nbsp;<B>beneficiaries</B>&nbsp;will not be able to recalculate the RMDs, however. ... The rules differ when the surviving spouse is the one who died.</SPAN></DIV></DIV> <DIV><BR /></DIV> <DIV><DIV><DIV><DIV><A rel="nofollow" target="_blank">Inherited IRA Rules for Spouses, Heirs and Trusts - AAII<BR /><DIV>https://www.aaii.com/journal/article/inherited-ira-rules-for-spouses-heirs-and-trusts.touch</DIV></A></DIV></DIV></DIV></DIV> </DIV> </DIV> Thu, 06 Jun 2019 08:09:25 GMT https://ttlc.intuit.com/community/retirement/discussion/what-happens-to-an-inherited-ira-when-the-beneficiary-die/01/639587#M60658 Critter 2019-06-06T08:09:25Z
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topic I have a 1099r for an IRA which I inherited from my mother who inherited it from her mother. Can you tell me if the RMD is based on my age or my mother? in Retirement tax questions
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https://ttlc.intuit.com/community/retirement/discussion/i-have-a-1099r-for-an-ira-which-i-inherited-from-my-mother-who-inherited-it-from-her-mother-can-you/01/639541#M60644
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I have a 1099r for an IRA which I inherited from my mother who inherited it from her mother. Can you tell me if the RMD is based on my age or my mother?
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https://ttlc.intuit.com/community/retirement/discussion/i-have-a-1099r-for-an-ira-which-i-inherited-from-my-mother-who-inherited-it-from-her-mother-can-you/01/639541#M60644
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You are a successor beneficiary.  A successor beneficiary...
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<P>You are a successor beneficiary.&nbsp; A successor beneficiary must continue the distribution schedule of the original beneficiary, so in this case the RMDs would be based on your mother's age on her birthday&nbsp;in the year following the year in which her mother died, reduced by one for each subsequent year, just as your mother would have been required to&nbsp;take had your mother not died.&nbsp; If your mother did not complete the beneficiary RMD for the year of her death, that responsibility falls to you.<BR /></P>
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This is a question for the IRA custodian ... they should...
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https://ttlc.intuit.com/community/retirement/discussion/this-is-a-question-for-the-ira-custodian-they-should/01/639561#M60649
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<P>This is a question for the IRA custodian ... they should have told you what you are required to take out and the other options on the distribution.&nbsp;</P>
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<pubDate>Thu, 06 Jun 2019 08:09:21 GMT</pubDate>
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<dc:date>2019-06-06T08:09:21Z</dc:date>
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Who's name in on the 1099-R?  Your mother or grandmother?...
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<link>
https://ttlc.intuit.com/community/retirement/discussion/who-s-name-in-on-the-1099-r-your-mother-or-grandmother/01/639571#M60653
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<P>Who's name in on the 1099-R?&nbsp; Your mother or grandmother? (With you as benificuary).</P><P>That would be the owner of the IRA.&nbsp;&nbsp; Assuming that the owner was 70 1/2 or older when they died, then:</P><P>Per IRS Pub 590B:&nbsp; <A rel="nofollow" href="https://www.irs.gov/publications/p590b#en_US_2018_publink1000230756" target="_blank">https://www.irs.gov/publications/p590b#en_US_2018_publink1000230756</A></P><P>"Owner Died On or After Required Beginning Date </P><P>If the owner died on or after his or her <A rel="nofollow" href="https://www.irs.gov/publications/p590b#en_US_2018_publink1000230726" target="_blank"> required beginning date</A> (defined earlier), and you are the designated beneficiary, you must base required minimum distributions for years after the year of the owner's death on the longer of:</P> <DIV> <UL> <LI> <P>Your single life expectancy shown on <A rel="nofollow" href="https://www.irs.gov/publications/p590b#en_US_2018_publink1000231236" target="_blank"> Table I</A> in Appendix B as determined under <A rel="nofollow" href="https://www.irs.gov/publications/p590b#en_US_2018_publink1000230768" target="_blank"> <EM>Beneficiary an individual</EM> </A>, later; or</P> </LI> <LI> <P>The owner's life expectancy as determined under <A rel="nofollow" href="https://www.irs.gov/publications/p590b#en_US_2018_publink10002917" target="_blank"> <EM>Death on or after required beginning date</EM> </A>, under <EM>Beneficiary not an individual</EM>, later."</P> </LI> </UL> </DIV><P> <BR /> </P><BR /><BR />
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mu understanding is an Inherited IRA cannot be passed on...
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https://ttlc.intuit.com/community/retirement/discussion/mu-understanding-is-an-inherited-ira-cannot-be-passed-on/01/639579#M60656
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mu understanding is an Inherited IRA cannot be passed on death&nbsp;&nbsp;to another beneficiary as an Inherited IRA.
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<pubDate>Thu, 06 Jun 2019 08:09:24 GMT</pubDate>
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https://ttlc.intuit.com/community/retirement/discussion/mu-understanding-is-an-inherited-ira-cannot-be-passed-on/01/639579#M60656
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<dc:creator>fanfare</dc:creator>
<dc:date>2019-06-06T08:09:24Z</dc:date>
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<title>
What happens to an inherited IRA when the beneficiary die...
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<link>
https://ttlc.intuit.com/community/retirement/discussion/what-happens-to-an-inherited-ira-when-the-beneficiary-die/01/639587#M60658
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<DIV> <DIV>What happens to an inherited IRA when the beneficiary dies?</DIV> </DIV><DIV> <BR /> </DIV><DIV> <DIV> <DIV><DIV><SPAN>If Chris is the&nbsp;<B>beneficiary</B>&nbsp;of an&nbsp;<B>inherited IRA</B>&nbsp;and he&nbsp;<B>dies</B>, the heirs he designated as his&nbsp;<B>beneficiaries</B>&nbsp;will become successor&nbsp;<B>beneficiaries</B>&nbsp;to the&nbsp;<B>inherited IRA</B>. These successor&nbsp;<B>beneficiaries</B>&nbsp;will not be able to recalculate the RMDs, however. ... The rules differ when the surviving spouse is the one who died.</SPAN></DIV></DIV> <DIV><BR /></DIV> <DIV><DIV><DIV><DIV><A rel="nofollow" target="_blank">Inherited IRA Rules for Spouses, Heirs and Trusts - AAII<BR /><DIV>https://www.aaii.com/journal/article/inherited-ira-rules-for-spouses-heirs-and-trusts.touch</DIV></A></DIV></DIV></DIV></DIV> </DIV> </DIV>
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<pubDate>Thu, 06 Jun 2019 08:09:25 GMT</pubDate>
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<dc:creator>Critter</dc:creator>
<dc:date>2019-06-06T08:09:25Z</dc:date>
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