Inheriting IRA questions

[Guest skh]

My sibling and I inherited a traditional IRA last year (2000). My sibling wired their 1/2 of the fund to a personal account out -of -state and I left my half intact. A year later, my 1/2 is still intact, accruing interest. Questions:

1) my bank says I can leave it that way indefinitely as

long as I take out at least the minimum distribution

yearly. (they claim that my sibling taking 1/2 out last

year qualified for that). Is this true?

2) My parent was issued the 1099 for the amount of

funds withdrawn by my sibling. Was this correct? My

sibling says this was wrong. Should have been

made out to him and that my bank officials were

uncooperative to make the change.

3) How am I going to be taxed on this - should I have

received some sort of 1099?