Unwinding the Inherited IRA Rules: Traditional IRAs

General Description:

Participants will learn the basic rules and regulations that apply in calculating Required Minimum Distributions for account owners, decedents, and beneficiaries.

Learning Objective:

After completing this course the participant will be able to:

• List the three major categories of beneficiaries under the inherited IRA rules.
• Determine the Required Beginning Date for the Required Minimum Distributions of account owners, decedents, and beneficiaries.
• Identify the appropriate method for calculating Required Minimum Distributions for various beneficiary types.
• Calculate the Required Minimum Distributions for account owners, decedents, and beneficiaries.
• Identify the appropriate statutes and regulations applicable to inherited IRAs.
• Explain the advantages and disadvantages of selecting certain beneficiaries as designated beneficiaries of a traditional IRA.

Instructors:

Richard L. Russell, Jr. has been an associate professor of accounting at Metropolitan State University of Denver (MSU Denver) for more than 10 years, teaching Tax I & II in the undergraduate program and Tax Research, Tax Practice & Procedure, and Partnership Taxation in the graduate Master of Professional Accountancy program. He earned his bachelor’s degree in accounting and Master of Professional Accountancy from Jackson State University and J.D. from the University of Iowa College of Law. He is licensed as a CPA in Mississippi and Colorado and licensed as an attorney in Colorado. He has served as a member of the AICPA’s Regulation Subcommittee, which votes on CPA exam questions related to tax and business law, and is licensed to practice before the United States Tax Court.

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