The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  https://boards.fool.com/if-an-ira-owner-who-is-taking-rmds-dies-before-31310777.aspx

Subject:  Re: IRA RMD in year of death Date:  7/2/2014  4:33 PM
Author:  Wradical Number:  121044 of 128039

If an IRA owner who is taking RMDs dies before taking the RMD that year, the IRA beneficiaries are responsible for figuring and distibuting the RMD. Where is the taxable income reported? (decedent's final return, estate imcome tax return, beneficiary's/beneficiaries' tax return)

Ira

====================
It's taxable to "the distributee" which may be a named beneficiary, on his/her 1040, or the estate's 1041, if that's where it's paid.

It would not be on the decedent's 1040, unless it ended up going to a surviving spouse, as named beneficiary, (which would be a joint return) or unless he/she rolled the account into her own IRA.

Bill
Copyright 1996-2018 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us