Year-Specific Inherited IRA RMD Calculator
Instructions: How to Use the Inherited IRA RMD Calculator
To use the Inherited IRA RMD Calculator, enter the value of the IRA account, the beneficiary’s age, and the year for which you want to calculate. The calculator will provide the required minimum distribution for that year.
Inherited IRA RMD Calculator 2020-2024
The Inherited IRA RMD Calculator helps beneficiaries determine the required minimum distributions they must take from an inherited IRA. The rules for calculating RMDs have changed slightly over the years, so it is important to use a calculator that is updated for each specific year.
2020 Inherited IRA RMD
In 2020, the CARES Act waived RMDs due to the COVID-19 pandemic. Beneficiaries were not required to take distributions.
2021 Inherited IRA RMD
In 2021, RMDs resumed and were calculated based on the updated life expectancy tables provided by the IRS.
2022 Inherited IRA RMD
For 2022, the RMD calculations remained consistent with the life expectancy tables introduced in 2021.
2023 Inherited IRA RMD
In 2023, there was no significant changes in the RMD calculation method. Beneficiaries should continue using the same tables.
2024 Inherited IRA RMD
As of 2024, there are no announced changes to the RMD rules, but beneficiaries should stay updated on any potential IRS modifications.
FAQ
What is an Inherited IRA?
An Inherited IRA is an account opened when you inherit an IRA or employer-sponsored retirement plan after the original owner’s death.
Do I have to take RMDs from an Inherited IRA?
Yes, beneficiaries of an Inherited IRA are generally required to take RMDs based on their life expectancy or a 10-year rule, depending on the circumstances.
How are RMDs calculated for Inherited IRAs?
RMDs for Inherited IRAs are typically calculated using the IRS’s life expectancy tables, which take into account the beneficiary’s age and the account balance.