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    #1

    IRA Minimum distribution

    taxpayer had been receiving IRA under 70 1/2 yrs rule. He died and now his daughter is receiving the IRA and the bank is telling her that she has to continue receiving the money just like her father. Is this correct or can she stop the withdrawals
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    #2
    Originally posted by neallove View Post
    taxpayer had been receiving IRA under 70 1/2 yrs rule. He died and now his daughter is receiving the IRA and the bank is telling her that she has to continue receiving the money just like her father. Is this correct or can she stop the withdrawals
    No, she can't really stop the distribution completely if RMD was already occurring.
    TTB p. 13-24 covers her choices. She can cash it out and pay the taxes, or leave it in the name of the deceased and continue the RMD payments based on beneficiaries own life expectancy calculation in the 'Single Lifetime Table.'
    "A man that holds a cat by the tail learns something he can learn no other way." - Mark Twain

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