In the past I have taken my December, end of the year, Inherited IRA account total and taken the withdraw in January. This has always been sufficient but as I look now my withdraw last January is short by $800. Can I make the adjustment this January or do I need to do it know in December?
Thanks in advance!
Inherited IRA RMD
Inherited IRA RMD
Last edited by sonos on Tue Dec 19, 2017 9:34 am, edited 1 time in total.
Re: Inherited IRA
If you are referring to your RMD, you need to take it before the end of this year.
Re: Inherited IRA RMD
Your 2017 RMD is based on the 12/31/2016 balance and must be withdrawn from the account by 12/31/2017. Any amount not taken which should have been can have an additional 50% penalty applied.
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