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Posted by Harlan Lunsford on June 21, 2007, 5:44 pm
Please log in for more thread options its9 wrote:
> I've tried to read the IRS instructions but I find it
> somewhat confusing. I would appreciate an informed answer.
>
> Husband and Wife, both over 75, had already taken their
> required IRA distribution for 2007.
>
> Husband recently passed away. Wife will be the sole
> beneficiary of husband's IRA.
>
> When the wife converts his IRA to her ownership, is there
> any further distribution that is required for 2007?
>
> Or is she just required to take a regular distribution in
> 2008 based on the sum of the value of all her IRA (his now
> added to hers)on 12/31/2007?
Instructions can be confusing, esp when they don't address
specifically the question.
But in this case, if RMD's are already made for 2007,
there's nothing widow needs to do this year. And yes, next
year her RMD is based on values of all her IRA's as of
12/31/2007.
ChEAr$,
Harlan Lunsford, EA n LA
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