RBD date confusion
I am continually confused about the RBD on an IRA. If, for example, someone turns 70 in June of 2008, they are 70-1/2 in December of 2008, so according to rules, does not have to take first distribution until April 15, 2009.
However, I am always getting confused by – if they wait to take their FIRST distribution, 2 questions:
1) do they actually have until Dec 31, 2009?
2) if they wait until April 0f 2009, do they have to take 2 distributions in that year? (this question always haunts me because I am always told “yes.”
Thank you,
Barb
Permalink Submitted by Janine Janine on Wed, 2008-05-28 18:31
[quote=”[email protected]“]Barb,
and you may increase your income such that your deduction for Medicare Part B is increased in a future year. The latter probably won’t happen, but it is a possibility based on the value of the distribution.
[/quote]
It does not take a great deal of money added to your AGI to increase the cost of your Medicare Part B coverage for the following year, and it probably will happen!