rmd distribution
clients birth date is 12-30-1937. He will be 71 the end of this year.
does he have to take his rmd for 2008?
or can he take his rmd in 2009, which would be one before 4-01-2009 and then the other before the end of the year in 2009?
the one before 4-01-09 would be based on 2007 year end contract value, correct?
Thank you,
Doug
Permalink Submitted by Denise Appleby on Tue, 2008-09-09 22:36
using the RBD calc at http://www.72t.net/MinDistribution/MdRequiredBegDate.aspx
[b]Attained Age[/b] 71
[b]Year Age 70.5[/b] 2008
[b]Date Age 70.5[/b] 6/30/2008
[b]Required Beginning Date [/b] 04/01/2009
His first RMD must be taken for 2008. This can be taken during 2008, or during 2009 providing it is taken by 04/01/2009.
The 2008 RMD is calculated using the 2007 y/e [url=http://www.retirementdictionary.com/Fair-Market-Value.htm%5DFMV%5B/url%5D