when satisfy RMD if acct holder turns 701/2 in 2008?
is it true if I turn 70 in the first 6 months of 2008 I have to satisfy my rmd by 4/1/2009 and if I turn 70 in the last 6 mothhs of 2008 I can satisfy my rmd by 4/1/10?
is it true if I turn 70 in the first 6 months of 2008 I have to satisfy my rmd by 4/1/2009 and if I turn 70 in the last 6 mothhs of 2008 I can satisfy my rmd by 4/1/10?
Permalink Submitted by Alan Spross on Mon, 2008-11-24 16:41
Yes, that is correct. The rules use age 70.5, not 70 and therefore 70.5 is reached in different years for birthdays pre July rather than after.