Inherited IRA
I inherited an IRA from my wife in 2022 who inherited it from her sister in 2017. Am I under a 10year withdrawal or a 5 year BDA withdrawal rule under the secure act? All were over 65.
Terry Says
You inherited an IRA as a spouse — which means you have separate rules for withdrawals, assuming that your spouse had already put the IRA she inherited into her own name. Spousal beneficiaries have options that other beneficiaries no longer have to stretch out the growth of the IRA.
The rules are complex and you have two major choices to make. Here’s a great explanation:
https://www.fidelity.com/learning-center/personal-finance/retirement/inheriting-ira-from-spouse
The rules get a bit murkier for the issue of “inheriting an inherited IRA”! Here’s what I found:
https://smartasset.com/estate-planning/inheriting-an-inherited-ira
Frankly, that didn’t really answer the question. So I suggest you ask your IRA custodian if the inherited IRA that was owned by your spouse, and is now yours as beneficiary, must follow the same rules as your spouse’s other IRAs.
