2009 RMD not required to be taken
I understand that a RMD from an IRA is not required for 2009 per a recent provision in the stimulus tax regulation changes. I have a tax client that has a single IRA and would only like to take a distribution of 1/2 his RMD for 2009. Are distributions that are less than the calculted RMD allowed for 2009? Or does the t/p have to completely not take any distribution?
Thank you in advance
Permalink Submitted by Clyde Wolf on Tue, 2009-04-07 16:13
HAGGERTY3,
During 2009, your tax client may take a distribution from their TIRA of any amount they wish.
Taxes will apply.