IRS Reverses Application of New 10-Year Stretch IRA Rules

Forum|Forum|4 years ago
March 11, 2022
2 replies
35 views

Apparently it's being poured over now by the "experts" but the IRS has apparently reversed its position on the 10 year IRA distribution change. Now RMD's must be taken each year and the total by year 10. This could cause big problems for 2020 and 2021 for those who did not take any distributions. Just adding more crap to the other crap we deal with.

ProSeries Professional

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Just-Lisa-Now-

Intuit Community Champion

They need to knock it TF off with all these changes later down the line!

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

Camp1040

Level 10

For all IRA's or just inherited?

dascpaAuthor

Level 11

This would only apply to the new law that reduced the stretch IRA for non-spousal inherited IRA's. I'm sure more info will be forthcoming from the experts and also how to deal with 2020 and 2021.

qbteachmt

Level 15

This happened back in early 2021 and got resolved as erroneously stated. Is there something going on now? It was the SECURE Act that made the change. The current Pub 590-B states: "The beneficiary is allowed, but not required, to take distributions prior to that date"

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