beneficiary of inherited ira
I am not sure of the rules. Do I have 10 years to take all of the account? Do I have to take an RMD for 2022? Was I supposed to take any for 2021? I inherited from my sister on May 7, 2021. She was 80. I was 79. Thank you
Terry Says
Since you inherited after 2020, and presumably she was taking RMDs, you must also take RMDs each year — AND you must liquidate the account by the end of 10 years.
Click on this link at Charles Schwab for details and a calculator.
