I have a regular IRA a SEP IRA an inheritied IRA from my mother Next year I have to take my first RMD(s). Can I add the year end value of all 3 kinds to determine the total RMD amount and then take that money from my choice of IRA?
I know that my 401(k) stands alone for its RMD.
No you can not add the year-end balances of all 3. Inherited IRAs stand by themselves. You must compute the RMD for the inherited IRA separately and you must take the distribution from the inherited IRA. You can aggregate SEP and the traditional IRA to obtain the RMD. You can take the RMD from either one or both of them.
Note that inherited IRAs use a different RMD table than your own IRAs, and that the distrubution rules for inherited IRAs depend on the year of death and possibly also whether the decedent was taking RMDs prior to death. Also, if you have an inherited Roth IRA, it has RMDs, unlike a self-owned Roth IRA.
You sound like you're already at least 70ish, so the next hack won't work for you, but I told my brother to increase his and his wife's 401(k) contributions and backfill the money by taking greater-than-required distributions from my Dad's traditional IRA that he inherited. While my dad died in 2018 and therefore he's still eligible for "stretch" IRA's, it will give him an even greater stretch. (It didn't apply to me because I got the house and therefore much less of the IRA's.) Part of the idea is to give him greater flexibility when his son applies to college. (He was 48 when his son was born.)
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According to Fred J. Tydeman snipped-for-privacy@tybor.com:
For inherited IRAs, in most cases you have to start taking RMDs shortly after you inherit, regardless of how old you are, and you may have as little as 5 years to withdraw everything.
The specific rules deoend whether she died before or after 1 Jan 2020. Either way I'd suggest checking the rules and how far behind you might be.
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