RBD
client was 70 1/2 in 2008, but will be 71 as of 12-29-08.
Is he still okay to wait until 4-1-09 to take his 2008 rmd based on age 71 or since he turned 70 1/2 and 71 in the same year, he must take his rmd by 12-31-08?
Thanks,
Doug
client was 70 1/2 in 2008, but will be 71 as of 12-29-08.
Is he still okay to wait until 4-1-09 to take his 2008 rmd based on age 71 or since he turned 70 1/2 and 71 in the same year, he must take his rmd by 12-31-08?
Thanks,
Doug
Permalink Submitted by Alan Spross on Wed, 2008-12-10 22:12
He can still wait until 4/1/09 even if his RMD is based on age 71 and then 72 for 2009.
The required beginning date follows the year taxpayer reaches 70.5, regardless of whether taxpayer also reaches 71 that year or not.