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must
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Mom's 2011 RMD must still be satisfied. The piotorn of the RMD that was not distributed before she died must be distributed to her beneficiaries prior to the end of 2011 or there is a 50% excise tax on that amount. The beneficiaries are responsible for that penalty. If the requred RMD was not taken by Dec 31, 2011, take the RMD as soon as possible in 2012, comlete Form 5329, follow the instructions for requesting a waiver of penalty and file the form with your 2011 tax return. Do not pay the penalty unless you receive a notice from the IRS that the penalty is due. The remaining 2011 RMD that you took in 2012 will be reported on your 2012 tax return in addition to the RMD for 2012 that you will have to take from your now inherited IRA.
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(VISITOR) AUTHOR'S NAME
Kamal
MESSAGE TIMESTAMP
19 december 2014, 20:32:47
AUTHOR'S IP LOGGED
186.95.241.188
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