Reply To: Non Deductible IRA

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#4697
Lilac
Participant

His 2018 RMDs were taken out in October 2018 before his passing.
I took all his 2019 RMDs and mine ( I am over 70 1/2) last week because the companies deadline are Nov 15, 2019.
Like you said, I thought since the IRAs/ 401Ks are in my name, they should be calculated as my age but no one wanted to recalculate them. I knew what the percentage should be but I am afraid I will have problem with the IRS so I just did whatever the investment companies said and withdrew his RMDs that was calculated in Jan 2019 when the year end statement were mailed.

I don’t have an accountant, as I usually do our taxes with Turbotax since our taxes are simple, no rental properties.
Now since you mentioned about 401K are supposed to be handle differently than IRA, I am confused and worried.
What should I do ? He had two 401Ks and both already switched to my name by the companies.
Didn’t the companies should have known it and told me to rollover to IRAs? Or maybe every company has different rules about 401K ?
Thanks Alan.