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Old 04-07-2014, 02:14 PM   #21
Thinks s/he gets paid by the post
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It seems to me you are on the way.

It can be a little hard to decode Internet posts - remember, we are all sitting in places like Amarillo.


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Old 04-07-2014, 02:24 PM   #22
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Originally Posted by pb4uski View Post
My guess would be that it counts towards the RMD in that the alternative was for the OP to pay it separately from after-tax funds. Actually, now that I think of it, it may really be more of a question for Schwab (how they will report the fee to the IRS) than for Vanguard.
Actually not a question for Schwab. They would have charged the fee whether there was going to be a forthcoming RMD or not. It's a question for the IRS. The IRS wants to see two things: (1) The IRA value as of the preceding EOY. (2) That an RMD was taken that's at least as much as the formula requires. The fact that a fee was taken for the xfer is of no concern to them.

My guess is that the xfer fee will not count towards the RMD just as any other possible account fees (some institutions charge annual IRA account maintenance fees), commissions, trading fees, etc., do not count toward RMD's.

But I'm no CPA. And the safe thing to do is assume the $50 does not count towards the RMD. We're talking very little money here.......... Maybe someone that actually knows will comment.........

"I wasn't born blue blood. I was born blue-collar." John Wort Hannam
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Old 04-07-2014, 04:16 PM   #23
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In case anybody is interested, I contacted Schwab. Schwab says the cashing out of the Inherited ROTH IRA satisfies 100% of RMD's for the ROTH, but cannot be counted towards the Inherited IRA. I still have to calculate/take the full RMD's on the balance as of 12-31-2013 before 12-31-2014. Also, the $50 does not count toward the RMD.

Thanks for all the input.

And whatever your labors and aspirations in the noisy confusion of life, keep peace in your soul. With all its sham, drudgery, and broken dreams, it is still a beautiful world. Be cheerful. Strive to be happy.- Desiderata by Max Ehrmann
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