Phil’s Tax Hacks

Ep 147: A Deep Dive Into RMDs (Part 2)

August 18, 2022

Everyone we’re working with for a retirement plan has to keep an eye on the age of 72 because that’s when the required minimum distributions begin. While we all know money has to come out of our retirement accounts, it’s not as simple to understand all the requirements and then execute that efficiently. Today we’ll continue our deep dive with part two focused on the inherited account side of things.   


Listen to part 1: 


Join us on today’s episode as we break down these major topics:

  • What two options you have as a surviving spouse. (1:15)
  • Understanding the changes that came down when the SECURE Act was introduced on January 1, 2020. (3:27)
  • The rules that apply to children who inherit your IRA and the caveats that come with those.  (7:40)
  • Do the rules change at all when you are leaving multiple accounts? (14:36)
  • Roth IRAs do fall under the 10-year RMD rule but remain tax-free. (18:04)


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