Question
Your fifth client is the child of a recently deceased municipal supervisor. The child is 41 and his mom, whose account he has inherited, was
Your fifth client is the child of a recently deceased municipal supervisor. The child is 41 and his mom, whose account he has inherited, was 72 when she passed away. She died in January. The deceased parent had not taken any distributions out of the account for the year in which she passed away, although she had taken her RMD in the year before she passed. The total account balance on the previous December 31stwas $447,511.44. This client will inherit their deceased parent's IRA which is now valued at $477,162. What is the relevant RMD, at the estate level, in the current year? Round your answer to the nearest dollar amount.
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