However, keep in mind that the law doesn't talk about RMDs only that the account needs to be liquidated at the end of 10 years
Steve Mankowski
------------------------------
Stephen MankowskiCPA
MANKOWSKI ASSOCIATES, CPA, LLC
steve@mankowski.cpa215-682-7366
------------------------------
Original Message:
Sent: 12-03-2022 08:35 AM
From: Mark Dolinger
Subject: RMD 2021 and 2022 distributions
UBS financial information is sending out information claiming the same that RMD distributions for inherited IRA's for beneficiaries of someone who passed in 2020 or later are not required to take RMD's until 2023. After reviewing their material and IRS notice 2022-53 it seems that is the case. I am not clear as to whether or not makeup distributions for years 2021 & 2022, if not taken will be required in 2023. Hoping that someone in the group can provide clarification on this.
thank you
------------------------------
Mark Dolinger CPA
MSD CPA, PC
Plainview NY
516-783-1223
msdcpa@outlook.com
Original Message:
Sent: 12-02-2022 07:42 PM
From: Gerald Cohen
Subject: RMD 2021 and 2022 distributions
Hi everyone
This was discussed at the symposium, where the IRS is not assessing penalties for not taking a beneficiary distribution.both in 2021 or 2022. Was the final consensus that you don't have to take 2022 or 2021 and that there is no catch up required? So we have to advise clients to take their RMD in 2023 with no doubling up?
Am I missing something??
Jerry
--
Gerald S. Cohen, CPA
cell 516 455-0643