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March 10, 2025
Question

I recieved a 1099R for a inheritance . The bank that did this took out 20 percent for fed tax. There is a spot on here asking for a RMD? Should that be 0 ?

  • March 10, 2025
  • 1 reply
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This was a inheritance.

1 reply

March 12, 2025

Beneficiaries of retirement plan and IRA accounts after the death of the account owner are subject to required minimum distribution (RMD) rules. 

 

A beneficiary is generally any person or entity the account owner chooses to receive the benefits of a retirement account or an IRA after they die. 

 

To review your circumstances, see IRS Retirement topic and How beneficiary RMDs are determined.

 

 

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