The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Inherited IRA-Minimum Distribution||Date: 3/24/2013 5:49 PM|
|Author: 0x6a74||Number: 118136 of 125415|
I inherited a small [$12k] IRA in 2011, and understood that since my Mother had not yet taken a 2011 distribution, that I was required to do so. The problem is, I forgot to take it.
Last year I took the 2011 distribution amount and the 2012 distribution amount.
Do I need to file anything now with the IRS because of this mistake, or should I wait and see if/what the IRS tells me?
dont know, but you might consider what i did.
>had no idea there's be RMDs on Mom's IRA (since *i* am under 70)
missed the first two years entirely but found that if Everything is distributed within 5 yrs..... no harm
|Copyright 1996-2017 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|