Questions and Answers from OLLI Courses
- June 19, 2007 - Summer Course #3 IRA Distributions and Beneficiary Designations: Instructor - Mike May
Question: Can the owner of an IRA combine his or her IRA with an IRA he or she inherited for purposes of determining yearly (Required Minimum Distribution) RMD calculations?
Answer: No, the two IRAs should not be combined. The reason they should not be combined is because the IRA owner must use a different RMD table for his or her IRA than that used for his or her inherited IRA. In other words, because inherited IRAs require you to use a different RMD table than non-inherited IRAs, the two IRAs need to be treated separately rather than combined.
In spite of my answer above, please consult with your tax advisor if you find yourself in this situation as IRA tax laws and regulations frequently change from year to year.
Mike May
703 620-2997
jmayfs@gmail.com
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