Two IRA's were inherited in 2015, one was cashed out but the second one was not. Since all IRA accounts are looked at as a total there is no further RMD for this year, right?
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Assuming the cashed out IRA was large enough to cover the RMD, they should be good for 2015.
That's a LONG way off though! -
Were the two IRAs really just a single IRA inherited from one decedent whose IRA was invested with two different trustees? Or were there two different decedents? It can make a slight difference if one person died in 2014, and the other died in 2015.Originally posted by Gretel
If the beneficiary wants to spread the remaining distributions over his life expectancy, he MUST transfer the inherited IRA funds into an "Inherited IRA" account, and this must be done via a trustee-to-trustee transfer. His first RMD must then be taken by December 31st of the year following the year in which the decedent died. So if the decedent died in 2014, the first RMD must be taken NLT 12/31/2015, but if the decedent died in 2015, the bene isn't required to take his first RMD until 12/31/2016.Roland Slugg
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