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 mk foss on Tue, 2009-04-07 20:42
The law changed made minimum distributions not required for 2009, thus no 50% penalty for missing them. There is no prohibition on taking distributions.