Inherited IRA Required Minimum Distribution Rules Explained! (2024) 🤓

Confused about the Inherited IRA RMD (required minimum distribution) rules? This video will break it down for you in simple terms. Learn all you need to know about required minimum distributions for inherited IRAs!
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0:00 - 0:25 Inherited IRA RMD Rule changes
0:26 - 0:40 RMD's before 2019
0:41 - 0:59 New inherited IRA required minimum distribution rules
1:00 - 1:27 Eligible Designated Beneficiary defined
1:28 - 1:50 Designated Beneficiary defined
1:51 - 3:24 Inherited IRA RMD rule explained (2024)
3:25 - 3:45 Tax penalty
3:46 - 4:17 New rules explained
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Business Affairs 📧[e-mail]

[@Jazzwealth]

Thanks for watching! I know these rules can be a little confusing, so I hope you found this helpful!

[@markconner7611]

Thanks Eric ! Great info . Extremely complex!!

[@brucesmith6868]

Thanks Eric good points

[@Jazzwealth]

Thanks, Bruce!

[@keithmachado-pp6fv]

The rules worked for me. Inherited IRA in 2020 while still working in the highest tax bracket. RMDs have been forgiven 2020-2024 which was better for me than the old stretch would have been. I just retired so have 6 years (2025-2030) to get the money out which is perfect as I am now in lower tax bracket and will live off the distributions until SS kicks in in 2030.

[@martinguldner3990]

Part of my $325,000 inheritance from my older brother in 2020 was about $18,000 from his traditional IRA (originally our mother's). Now the balance of this inherited traditional IRA is $1200.

[@KenAtwell]

I guess it is fine that the IRS keeps kicking the can down the road on this. Someday they will come to their senses and realize that a 10 year withdrawal timeline *and* an RMD is absurd.
The thought of an RMD on a inherited Roth IRA - which I have heard proposed - just makes my head hurt.

[@hoop26211]

My father passed away at the end of 2023. He did take his RMD for 2023 before he passed away. I inherited his IRA in early 2024. I need to close the IRA within 10 years. My plan is to withdraw 10% of the shares in the IRA every year so that I spread out the tax burden and after 10 years the IRA will be closed. I will make sure though that the 10% I withdraw every year is more than my RMD. This is just an option on how you can withdraw or handle an Inherited IRA.

[@nickjames3372]

If my job closes and I roll over my 401k to ira do I get taxed on it

[@alrocky]

Traditional 401(k) rollover to traditional IRA is not a taxable event.

[@ajajali5258]

Interesting, but this video forgot to mention the most powerful project - UNIMANTIC PROTOCOL