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Reply to "Inherited IRA Question"
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[quote=Anonymous]The deceased was already taking RMDs but had not yet taken it in 2022. Am I required to take it this year? Yes, you take your portion of the deceased's final RMD if it was not yet taken in 2022. So if your Mom's RMD was 40k, and you inherited half and a sibling inherited half, each of you take a 20k RMD and apply your own withholding. The financial institution where your parent held their account should be able to tell you your portion of the RMD. Next year you will have BOTH a small RMD based on life expectancy factor AND you are subject to the new 10 year window to fully deplete the IRA. See the 9/30 guidance from the IRS for post SECURE Act Inherited IRAs.[/quote]
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