We started following that rule when my wife inherited an IRA from her mother 3 years ago. Our balance is now MORE than what we started with. First world problem, indeed, but we will be stepping up our distributions, so we don't have a large lump remaining at year 10.Some have suggested a sequence of 1/10, 1/9, 1/8, etc to help even out the 10 year distributions.Once you begin, subtract one each year:
65 -- 22.9
66 -- 21.9
67 -- 20.9
That makes sense, but since this is on the 10-yr plan, looks like the RMD's will have to be increased above the minimums or plan in year 10 for a large WD to empty out the account (and impact on Roth conversions and IRMAA).
Thanks, will be very interesting to see what the IRS might come out with, if anything, on this topic. Appreciate the help.
(Corrected the quotes above)
Statistics: Posted by KingRiggs — Mon Apr 15, 2024 7:49 am