ADDITIONAL INFORMATION:
I have two IRAs, a regular one that I funded and an inherited one. An RMD is required for each. Can I take both RMDs from the inherited IRA until it is depleted?
ANSWER BY MARGARET CROSS-BELIVEAU:
No, you can’t take it all from one IRA. You can lump the traditional IRAs into one column and the inherited IRA in another. With the traditional IRAs, you may make the withdrawal from one of them if you have several. If you have inherited more than one IRA from the same person, you may make one withdrawal from those inherited IRAs.
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Legal Disclaimer: Please note that this answer does not constitute legal advice, and should not be relied on since each situation is fact specific, and it is impossible to evaluate a legal problem without a comprehensive consultation and review of all the facts and documents at issue. This answer does not create an attorney-client relationship. A lawyer experienced in the subject area and licensed to practice in the jurisdiction should be consulted for legal advice.
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The tax attorneys at the Beliveau Law Group provide legal services for taxation. The law firm has offices and attorneys in Naples, Florida; Waltham, Massachusetts; and Salem, New Hampshire.
