I waa told I had 10 tears to draw down an inherited IRA, then I was told tou had to take an RMD in addition to the drawing down in 10 years. I was also told that the IRS waived the RMD requirement for 2023 and 2024. Turbotax is asking RMD questions for 2024. What is going on?
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If you are subject to the 10-year rule for a decedent dying after 2019, the IRS waived the penalty for failing to take an RMD from the inherited IRA with IRS Notice 2024-35.
Please select "None of these plans failed to withdraw the RMD" on the on the "Did You Miss a Required Distribution From Any Retirement Accounts?" screen at the end of the retirement interview (click continue after entering all Form 1099-Rs).
I seem to be doing something wrong because I can't get past this:
Just indicate that the entire Distribution Amount was RMD. for that entry. Part of your required distribution could also be considered to meet your RMD requirement.
Here's some RMD FAQ's from the IRS.
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