Coronavirus RMD Relief: Ability To Waive Mandatory IRA Distributions In 2020

Individuals age 70.5 and non-spouse beneficiaries of Inherited IRA’s will have the option to waiver their required minimum distribution (RMD) in 2020. This comes as a result of the CARES Act that was passed in March 2020. We will address who is eligible for the RMD waiver and for individuals that have already taken their RMD for 2020, if they can return it to the IRA and avoid the tax hit.

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