When you inherit an Individual Retirement Account (IRA), the IRS requires you to withdraw specific amounts over time. These are known as Required Minimum Distributions (RMDs). Calculating these amounts depends heavily on when the original owner passed away and your relationship to them.
The SECURE Act and the 10-Year Rule
For most non-spouse beneficiaries who inherited an IRA after December 31, 2019, the "10-Year Rule" applies. This rule generally requires the account to be fully distributed by the end of the 10th year following the year of the owner's death. While annual RMDs might not always be required during those 10 years (depending on if the owner had reached their own RMD age), many choose to take distributions annually to avoid a massive tax hit in year 10.
The Single Life Expectancy Method
Spouses and "Eligible Designated Beneficiaries" (such as minor children or chronically ill individuals) may still use the Life Expectancy method. This method uses the IRS Single Life Expectancy Table (Table I) to determine a distribution period based on the beneficiary's age. This calculator uses the updated 2022 IRS life expectancy factors.
Example Calculation
If you inherited an IRA with a balance of $100,000 on December 31st of the previous year, and your age in the current year is 60, the IRS Single Life Expectancy factor is 27.1. Your RMD would be $100,000 divided by 27.1, resulting in a required distribution of $3,690.04.
Disclaimer: This tool provides estimates for educational purposes only. Tax laws regarding IRAs are complex and subject to change. Consult with a tax professional or financial advisor before making withdrawal decisions.
function calculateInheritedRMD() {
var balance = parseFloat(document.getElementById('accountBalance').value);
var age = parseInt(document.getElementById('beneficiaryAge').value);
var yearOfDeath = parseInt(document.getElementById('yearOfDeath').value);
var type = document.getElementById('beneficiaryType').value;
var currentYear = new Date().getFullYear();
if (isNaN(balance) || isNaN(age) || isNaN(yearOfDeath) || balance <= 0 || age <= 0) {
alert("Please enter valid positive numbers for all fields.");
return;
}
// Simplified IRS Table I (Single Life Expectancy) – 2022 Revision
// Data points for key ages to interpolate or reference
var lifeTable = {
0: 84.6, 10: 74.8, 20: 65.0, 30: 55.3, 40: 45.7, 50: 36.2, 51: 35.3, 52: 34.3, 53: 33.4, 54: 32.5,
55: 31.6, 56: 30.6, 57: 29.8, 58: 28.9, 59: 28.0, 60: 27.1, 61: 26.2, 62: 25.4, 63: 24.5, 64: 23.7,
65: 22.9, 66: 22.0, 67: 21.2, 68: 20.4, 69: 19.6, 70: 18.8, 71: 18.0, 72: 17.2, 73: 16.4, 74: 15.6,
75: 14.8, 80: 11.2, 85: 8.1, 90: 5.7, 95: 4.0, 100: 2.8
};
// Find the closest factor or calculate linear approximation
var factor = 0;
if (lifeTable[age]) {
factor = lifeTable[age];
} else {
// Fallback calculation for ages not explicitly in the small array above
if (age 75 && age 80 && age = 2020 && type === "designated") {
note = "Note: Under the SECURE Act 10-Year Rule, you generally must empty the account by Dec 31 of the 10th year following the death. While annual RMDs are calculated here for budgeting, specific yearly requirements may vary.";
} else if (yearOfDeath < 2020) {
note = "Note: Pre-SECURE Act rules allow for 'stretching' distributions over your life expectancy.";
} else {
note = "Note: As an Eligible Designated Beneficiary, you are generally permitted to use the Life Expectancy method.";
}
document.getElementById('rmdOutput').innerText = "$" + rmd.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('logicNote').innerText = note;
document.getElementById('resultArea').style.display = "block";
}