CARE Act and whether I can suspend RMDs from an inherited IRA.
Hi, I enjoy your segments on WGN .
My question is with the passage of the CARE Act, I have heard conflicting sides to whether I can suspend the RMD payments from an inherited IRA? Both my wife and I are affected by this, and if possible would like to delay them for 2020 while the market is so volatile.
Thank you
Terry Says
For beneficiaries who inherited an IRA that is subject to the 5-year distribution rule, the year 2020 is disregarded. Those beneficiaries now have a total of 6 years to complete their distributions. In other words, you can skip the 2020 RMD!
