Tuesday, August 8, 2023

Inherited IRAs -- August 8, 2023

Locator: 45387TAXES.

This is about as clear as one can get.

Non-spouse inheritors (typical: baby boomer inherits an IRA from a parent of the greatest generation):
  • key date unchanged: December 31, 2019.
  • inherited before key date: RMDs required; 10-year rule DOES NOTE apply; can stretch
  • inherited after key date: RMDs still waived; 10-year rule DOES apply; cannot stretch
Exceptions apply.

From this week's issue of Barron's.

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