Calculate your Required Minimum Distribution (RMD) for an inherited IRA.
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Single Life Expectancy Table (for spouse beneficiaries)
Joint Life and Last Survivor Expectancy Table (less common for inherited IRAs, consult advisor)
Understanding Inherited IRA RMDs
When an IRA owner passes away, their beneficiaries may inherit the IRA. Unlike the original owner who is subject to RMDs starting at age 73 (for those born 1951-1959) or 75 (for those born 1950 or earlier, as per Secure Act 2.0), beneficiaries have specific rules for Required Minimum Distributions (RMDs) that must be taken from the inherited account.
Key Concepts:
Beneficiary Type: The rules can vary significantly depending on whether the beneficiary is a spouse or a non-spouse (like a child or grandchild). This calculator primarily focuses on the common RMD calculation for non-spouse beneficiaries using IRS life expectancy tables. Spouses often have more flexibility, including the option to treat the inherited IRA as their own.
The Uniform Lifetime Table: This is the most common table used for RMD calculations. It provides a life expectancy factor based on the IRA holder's age. For inherited IRAs, the beneficiary's age is used.
Single Life Expectancy Table: This table is used by beneficiaries when calculating their RMDs, typically for non-spouse beneficiaries.
The Rule: For non-spouse beneficiaries, the annual RMD is calculated by dividing the account balance as of December 31st of the previous year by the life expectancy factor for the beneficiary's current age, as found in the IRS's Single Life Expectancy Table.
The "Stretch IRA" vs. The "10-Year Rule": The Secure Act of 2019 introduced the "10-year rule" for most non-eligible designated beneficiaries. This rule generally requires the entire inherited IRA balance to be distributed by the end of the 10th year following the year of the original owner's death. However, RMDs must still be taken annually during those 10 years, unless the owner died before their RBD and the beneficiary is NOT an "eligible designated beneficiary" (e.g., disabled, chronically ill, or a minor child up to majority). This calculator focuses on the *annual* RMD calculation. Consult with a tax advisor for the full implications of the 10-year rule.
How the RMD is Calculated:
The formula used in this calculator is:
Annual RMD = (Account Balance on Dec 31st of Prior Year) / (Life Expectancy Factor from IRS Table)
Important Note: The "Year of First RMD" input is crucial. If you are calculating for the *first year* you are eligible to take an RMD from the inherited account, you will use the life expectancy factor corresponding to your age *in that first year*. For subsequent years, you will use the factor for your age in that subsequent year. The IRS publishes updated life expectancy tables, and the factors decrease each year as you age.
Disclaimer:
This calculator provides an estimate for educational purposes only. Tax laws and IRS regulations are complex and subject to change. The specific life expectancy factors can be found in IRS Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs). It is highly recommended to consult with a qualified tax professional or financial advisor to determine your exact RMD obligations based on your individual circumstances.
// IRS Life Expectancy Factors (Single Life Expectancy Table)
// These are illustrative factors and may need updating based on current IRS publications.
// Source: IRS Publication 590-B, Table III (Single Life Expectancy)
var lifeExpectancyFactors = {
1: 56.1, 2: 55.1, 3: 54.2, 4: 53.2, 5: 52.3, 6: 51.3, 7: 50.4, 8: 49.4, 9: 48.5, 10: 47.5,
11: 46.6, 12: 45.7, 13: 44.7, 14: 43.8, 15: 42.9, 16: 42.0, 17: 41.1, 18: 40.2, 19: 39.3, 20: 38.4,
21: 37.5, 22: 36.6, 23: 35.8, 24: 34.9, 25: 34.1, 26: 33.2, 27: 32.4, 28: 31.5, 29: 30.7, 30: 29.9,
31: 29.0, 32: 28.2, 33: 27.4, 34: 26.6, 35: 25.8, 36: 25.0, 37: 24.2, 38: 23.4, 39: 22.6, 40: 21.9,
41: 21.1, 42: 20.4, 43: 19.7, 44: 19.0, 45: 18.3, 46: 17.6, 47: 17.0, 48: 16.3, 49: 15.7, 50: 15.1,
51: 14.5, 52: 13.9, 53: 13.3, 54: 12.7, 55: 12.2, 56: 11.6, 57: 11.1, 58: 10.6, 59: 10.1, 60: 9.6,
61: 9.1, 62: 8.7, 63: 8.2, 64: 7.8, 65: 7.4, 66: 7.0, 67: 6.6, 68: 6.2, 69: 5.9, 70: 5.5,
71: 5.2, 72: 4.9, 73: 4.6, 74: 4.3, 75: 4.1, 76: 3.8, 77: 3.6, 78: 3.3, 79: 3.1, 80: 2.9,
81: 2.7, 82: 2.5, 83: 2.3, 84: 2.1, 85: 2.0, 86: 1.8, 87: 1.7, 88: 1.5, 89: 1.4, 90: 1.3,
91: 1.1, 92: 1.0, 93: 0.9, 94: 0.8, 95: 0.8, 96: 0.7, 97: 0.6, 98: 0.5, 99: 0.4, 100: 0.4,
101: 0.3, 102: 0.3, 103: 0.2, 104: 0.2, 105: 0.1, 106: 0.1, 107: 0.1, 108: 0.1, 109: 0.0, 110: 0.0
};
function calculateRmd() {
var balance = parseFloat(document.getElementById("accountBalance").value);
var age = parseInt(document.getElementById("age").value);
var selectedTable = document.getElementById("lifeExpectancyTable").value;
var resultDiv = document.getElementById("result");
resultDiv.style.display = 'block';
// Validate inputs
if (isNaN(balance) || balance <= 0) {
resultDiv.innerHTML = "Please enter a valid account balance.";
resultDiv.style.backgroundColor = '#f8d7da'; // Error color
resultDiv.style.color = '#721c24';
return;
}
if (isNaN(age) || age 110) { // Max age in table is 110
resultDiv.innerHTML = "Please enter a valid age (1-110).";
resultDiv.style.backgroundColor = '#f8d7da'; // Error color
resultDiv.style.color = '#721c24';
return;
}
var factor;
if (selectedTable === "singleLife") {
factor = lifeExpectancyFactors[age];
} else {
// Joint Life table is more complex and depends on the *other* person's age.
// This calculator is primarily for non-spouse beneficiaries using the single life table.
// For simplicity and the most common scenario, we'll show an error or guidance.
resultDiv.innerHTML = "The Joint Life and Last Survivor Expectancy Table is complex. This calculator is best suited for the Single Life Expectancy Table commonly used by non-spouse beneficiaries. Please consult a financial advisor.";
resultDiv.style.backgroundColor = '#fff3cd'; // Warning color
resultDiv.style.color = '#856404';
return;
}
if (factor === undefined || factor === 0) {
resultDiv.innerHTML = "Life expectancy factor not found for age " + age + ". Please check IRS tables or consult an advisor.";
resultDiv.style.backgroundColor = '#f8d7da'; // Error color
resultDiv.style.color = '#721c24';
return;
}
var rmdAmount = balance / factor;
resultDiv.innerHTML = "$" + rmdAmount.toFixed(2) + "Estimated Required Minimum Distribution (RMD)";
resultDiv.style.backgroundColor = 'var(–success-green)'; // Success color
resultDiv.style.color = 'white';
}