Bene Controlled IRA
In regard to bene controlled IRAs, have the rules always been to take the single life expectancy of the bene and subtract 1 each year to find the divisor when calculating RMD, or were those rules just put in place a few years ago?
Somewhere, I thought the rules USED TO BE that bene got to recalculate life expectancy each year.
Any help on this rule would be greatly appreciated. Thanks.
Permalink Submitted by Al Fry on Fri, 2008-01-11 23:58
A spouse can recalculate, however I don’t think a non-spouse ever could.
Permalink Submitted by Denise Appleby on Sun, 2008-01-13 11:53
You may want to look at a version of Pub 590, that was written before the new rules. For instance the 1999 version http://www.irs.gov/pub/irs-prior/p590–1999.pdf