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kickitagain
February 23, 2023
Question

Should Value of all IRA's on 12/31/2022 include Inherited IRA's + Standard IRA's + Roth IRA's?

  • February 23, 2023
  • 2 replies
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2 replies

fanfare
fanfare
Employee
February 23, 2023

the instructions tell you to include Traditional, SEP and SIMPLE IRAs.

that does not include inherited IRAs.

That does not include Roth IRAs.

 

@kickitagain 

JohnB5677
JohnB5677
February 23, 2023

You would calculate the year end amounts from any IRA, SIMPLE IRA, SEP IRA, or 401K, 403B or other type retirement plans and inherited IRA accounts in the end of year value.  Pensions and Roth IRAs are not included.

 

However, after the passing of the ROTH IRA owner, the inherited IRA is subject to the same rules as a traditional IRA.

 

RND's are required at the age of 72.

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