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Question

How are entries made for distributions from an inherited IRA under the IRS 10 year rule?

Forum|Forum|1 year ago
January 17, 2025
1 reply
0 views

The system is asking for the Required distribution amt when there is none under the IRS 10-year rule, publication 590B, for individual designated beneficiaries.

Employee

If your RMD is zero, enter -0-.

@tracypfisterer

Employee

Under the 10-year Rule, if the owner who named you had not reached the age of beginning RMDs, you don't have to take a yearly RMD.

Otherwise. you do.

Employee

For years prior to 2025 the IRS waived the penalty for failing to take distributions that might be required under the 10-year rule. In 2024 TurboTax, always enter $0 as the required RMD with regard to distributions made from an inherited IRA that is subject to the 10-year rule.